QUESTION 3 3 points Saved An investor buys a condo in Des Moines priced at $140,000. The investor finds a tenant who agrees and signs a step up lease to rent this property. His rents will start at $1200 per month for the first year and increase by $100 each year for a period of 3 years. The investor sells the property at the end of 3 years for $130,000. What internal rate of return the investor earned on his investment? (State your answer rounded to 2 decimals and interest rates are quoted always as example 5.00 or 6.00) 8.18 QUESTION 6 A 30-year mortgage loan of $400,000 is made for a 100 acre farm in BlackHawk County at an interest rate of 5%. Constant payments are to be made monthly. If the loan to be repaid over 30 years and the investor makes monthly payments of $1600 towards the loan, what is the residual balance at the end of 30 years on this loan? (State your answer rounded to 2 decimals)