Question
Dennis has an opportunity to buy a Duplex for $ 325,000. His plan is to finance it with a Loan to Value ratio of 80%
Dennis has an opportunity to buy a Duplex for $ 325,000. His plan is to finance it with a Loan to Value ratio of 80% mortgage over 30 years at a fixed rate of 7% with monthly payments. If he buys this Duplex and its price remains unchanged at $ 325,000 for one year, how much Equity Dennis willl have in the Duplex at the end of 1st year?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing And Assurance Theory And Practice
Authors: Clifford Gomez
1st Edition
8120345665, 978-8120345669
