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(Value of assumable loan) A house is sold with an assumable $156.000 below-market loan at 8.5% for a remaining term of 15 vears. Current rates

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(Value of assumable loan) A house is sold with an assumable $156.000 below-market loan at 8.5% for a remaining term of 15 vears. Current rates are 9.75% for 15 vear mortgages. If the house was actually sold for $240,000 with the loan being assumed Assuming the buyer will keep the house for 15 years. what is the cash-equivalent value of the house? (That is, how much shoule the sales price be if the loan cannot be assumed) (Hint it would be sold for less without the loan assumption) 5229,010.77 $219.339,60 $250.834.82 5260660.40

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