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?
| a. | $ 256,956 | ||
| b. |
| ||
| c. | $ 72.089 | ||
| d. | $ 65,000 |
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M: Finance
Authors: Marcia Cornett, Troy Adair, John Nofsinger
5th Edition
1260772357, 9781260772357
