Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Felice bought a duplex apartment at a cost of $195.000. Her mortgage payments on the property are 51.930 per month Terrates total per year, and

image text in transcribed
Felice bought a duplex apartment at a cost of $195.000. Her mortgage payments on the property are 51.930 per month Terrates total per year, and insurance costs $1.260 per year. She estimates that she will spend 51.566 each year per apartment formance replone pance and other costs. The tenants will pay for all bites. What monthly rent must she charge for each apartment to break even? O 1.217.50 1930.00 $2.345.00 51.260.00 51.464.50 QUESTION 10 Assume your home is assessed at $285,000. You have a 5213,000 loan for 20 years at 5 percent. Your property tax rate is 12 percent of the end value. In year one, you would pay $10.650 in mortgage interest and $3,420 in property tax (1.2 percent on $285,000 assessed value Assuming you are in a 28 percent tax bracket by what amount would you have lowered your federal income tax O $3.939.60 $3,420.00 $2.982.00 5957.60 @ $4.535.40

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Venture Capital And The Finance Of Innovation

Authors: Andrew Metrick, Ayako Yasuda

3rd Edition

1119490111, 978-1119490111

More Books

Students also viewed these Finance questions