Question 4

Suppose Shaan invested just $22,000 of his own money and had a $94,000 mortgage with an interest rate of 8.5 percent. After three years, he sold the property for $135,000.

(a) What is his gross profit?

(b) What is his net profit or loss? (Input the amount as a positive value.)

(c) What is the rate of return on investment? (Negative amount should be indicated by a minus sign. Enter your answer as a percent rounded to 1 decimal place.)