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Charlie bought her house 10 years ago for $300,000 with a $175,000 mortgage from the seller. The terms of the mortgage were 5% rate ,
Charlie bought her house 10 years ago for $300,000 with a $175,000 mortgage from the seller. The terms of the mortgage were 5% rate , 10 years with 30 year amortization. She has to pay 1 point upfront and 1 point at maturity. Unfortunately her credit score is only 550 and cannot get a mortgage to refinance , so she has to sell her property . the good news is property values have gone up 6% per year compounded annuallly . How much cash will she net out from the sale ? and what is her annual return on the property? pls show work on excel
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