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Chun and Mali Tung bought a house for $135,980. They made a $30,000 down payment. Their annual expenses were mortgage interest of $7,540, depreciation
Chun and Mali Tung bought a house for $135,980. They made a $30,000 down payment. Their annual expenses were mortgage interest of $7,540, depreciation of 2.5% of the purchase price of the house, and taxes, repairs, and insurance of $10,380. They rented the house for $1,850 per month. Determine a) the annual net income and b) the annual yield.
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