Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what is the correct answerplease Felice bought a duplex apartment at a cost of $165,000. Her mortgage payments on the property are $1,520 per month,

what is the correct answerplease
image text in transcribed
Felice bought a duplex apartment at a cost of $165,000. Her mortgage payments on the property are $1,520 per month, $666 of which can be deducted from her income taxes. Her real estate taxes total $1752 per year, and insurance costs $1,464 per year. She estimates that she will spend $1,230 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What must she charge to make $2,650 in profit each year? (Do not round intermediate calculations. Round your answer to 2 decimal places. Ignore any tax effects.) Answer is complete but not entirely correct. Rent per apartment $ 1,547.33

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Investments

Authors: Zvi Bodie, Alex Kane, Alan J. Marcus

9th Edition

73530700, 978-0073530703

More Books

Students also viewed these Finance questions

Question

How do warranties and guarantees act as signals?

Answered: 1 week ago

Question

To solve p + 3q = 5z + tan( y - 3x)

Answered: 1 week ago