1. Fifteen years ago, you purchased vacation home in Barcelona for $1.500,000. At that time, you had put down 20% as down payment, and the rest was financed thru a mortgage loan set at 6.6% per year CM. You have made all your payments (on time) without fail. To day you sold the property for $2,000,000 and paid 7% sales commission that includes any closing and administrative costs.

Today, after paying the bank for outstanding loan balance, how much cash did you realize?