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Use the following information to answer the next 5 questions? You've decided to purchase a rental property. The property cost $ 3 5 0 ,

Use the following information to answer the next 5 questions?
You've decided to purchase a rental property. The property cost $350,000. You plan to pay 23% as a down payment. Current 25 year mortgage rates are 6.2% APR. You plan to keep the home for 9 years and then sell it. You plan to rent the home for $2100 per month. Property tax on the property will be $1800 and the insurance will be $600 a year. You believe the property will appreciate at 4% per year.
Question 6
1 pts
What is the net present value of this project if you use 8% as your discount rate?
Question 7
1 pts
What is the amount of interest you will pay during the 9 years you own the property?
Question 8
1pts
How much do you anticipate selling the home for?
Question 9
1 pts
How much do you still owe at the end of 9 years?
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