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Pat is about to sell her house for $750,000. She bought it 10 years ago and it had appreciated at a rate of 5%. annually.
Pat is about to sell her house for $750,000. She bought it 10 years ago and it had appreciated at a rate of 5%. annually. She had bought the property subject to an 80% mortgage. The terms of the mortgage at that time were 5.5% rate with 30 year amortization. How much cash will she net out from the sale? And what is her rate of return as a % on the property?
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