Mr. Rocha bought his house 15 years ago, with a value of $ 25,000, with payments of $ 3,000 per month for monthly payments in advance, and an interest rate of 12% convertible per month. You want to know if the price you paid for it is right. Because, he feels that they did not provide him with correct advice.

The following information is available from the advice provided: P = 3000 [1- (1 + 0.12) -180 / 0.12] Home value 15 years ago $ 25,000 What is the mistake our advisor made?