Question
I am about to sell my house in Saskatchewan that I bought it as an investment in 2014 and it is now the end of
I am about to sell my house in Saskatchewan that I bought it as an investment in 2014 and it is now the end of the year in 2021. I bought the house for $240,000 and I am selling it for $300,000. Assuming that I sell it for exactly $300,000 and it cost me $10,000 for taxes and realtor fees, then I can keep the rest as profits. I bought the house with a $50,000 down payment of my own money and the rest of the money I made on the house, I used to pay off the mortgage of $190000. Use the rule of 70 to calculate my average growth rate over that time period, my average growth rate was ________ percent.
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