Question
Comparable sale sold for $190,671 with down payment of 10% Seller financed mortgage for a 29-year term pmt @ 5% interest compounded monthly with
Comparable sale sold for $190,671 with down payment of 10% Seller financed mortgage for a 29-year term pmt @ 5% interest compounded monthly with a 12 year balloon.. Homes in area are typically held for 29 years Market derived interest rate is 10%. What is the cash equivalency sale price of the comparable?
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1119392132
