Question 1

An apartment building owner has a mortgage balance of $2,465,000. He also owes $22,575 in back-owed property taxes (plus penalties of 10%) and a foreclosure trustee's sale has been set - so he is also 90 days behind on payments of $33,857. What % of the outstanding balance will the bank recover if the building sells for $2,499,000 at auction?

Question 2

Molly is traveling from France to the US. She knows that 1 US dollar is worth 0.80 Euro. Having a keen eye for business and fashion, she buys 20 knock-off Hermes scarves for 500 Euro. When she returns to the US, she sells them for $49.99 each. What is her profit in euro?