Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Felice bought a duplex apartment at a cost of $205,000. Her mortgage payments on the property are $1,630 per month, $749 of which can be
Felice bought a duplex apartment at a cost of $205,000. Her mortgage payments on the property are $1,630 per month, $749 of which can be deducted from her income taxes. Her real estate taxes total $2,016 per year, and insurance costs $1,176 per year. She estimates that she will spend $1,422 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What must she charge to make $2,150 in profit each year?
$892.17. | ||
$1,027.67. | ||
$1,156.08. | ||
$942.17. |
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