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Please solve both will giove you like Show all your work for full credit. Results without calculations will count like incorrect answers. 1. You would
Please solve both will giove you like
Show all your work for full credit. Results without calculations will count like incorrect answers. 1. You would like to buy a house and are thinking about your budget. You have $45,000 in cash that you could use as a down payment. You are also willing to pay $3,050 per month for your mortgage over the next 30 years. After checking various offers, you decided that you would like to have a fixed interest mortgage, the best one that suits you is currently sold with a yearly interest rate of 9%. Please calculate the upper price ceiling for any house you might be able to purchase. 2. You are applying the sales comparison approach to estimate the value of a unit of real estate. In the process, you established that the best comparison House A, which was sold 4 months ago for $600,000. Another house (House B) was sold for the last time 1.5 years ago. At that time, it was sold for $500,000. It sold again today for a total price of $590,000. What is the monthly rate of increase? What is the adjusted price of house A ? (You can ignore any other adjustments or complications that might arise in the real world)Step by Step Solution
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