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In August 2 0 0 4 , Bonnie Martin bought a house for $ 3 9 6 , 0 0 0 . She put 2

In August 2004, Bonnie Martin bought a house for $396,000. She put 20% down and financed the rest with a thirty-year loan at the then-current rate of
5
3
4
%.
In 2007, the real estate market crashed. In June 2009, she had to sell her house. The best she could get was $234,000. Was this enough to pay off the loan?
Yes
No
If so, how much did she profit? If not, how much did she have to pay out of pocket to pay off the loan? (Round your answer to the nearest cent.)
$
---Select---In August 2004, Bonnie Martin bought a house for $396,000. She put 20% down and financed the rest with a thirty-year loan at the then-current rate of
5
3
4
%.
In 2007, the real estate market crashed. In June 2009, she had to sell her house. The best she could get was $234,000. Was this enough to pay off the loan?
Yes
No
If so, how much did she profit? If not, how much did she have to pay out of pocket to pay off the loan? (Round your answer to the nearest cent.)
$
---Select---

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