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John is thinking of buying a duplex. His monthly expenses will be $1,000 for the mortgage, $550 for taxes, and $350 for insurance. He also
John is thinking of buying a duplex. His monthly expenses will be $1,000 for the mortgage, $550 for taxes, and $350 for insurance. He also needs to pay an annual association fee of $900. If he can rent out one-half of the unit for $1,800 per month, how much will he make or lose per month?
a. | He will make $250. | |
b. | He will lose $100. | |
c. | He will make $800. | |
d. | He will lose $1,000. |
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