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You have a choice between the following two identical properties: Property A is priced at $152.400 with 80 percent financing at a 10.5 percent interest

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You have a choice between the following two identical properties: Property A is priced at $152.400 with 80 percent financing at a 10.5 percent interest rate for 20 years. Property B is piciced at $162,400 with an assumable mortgage of $100,000 at 9 percent interest with 20 years remaining. Monthly payments are $89973 A second mortgage for $21,600 can be obtained at 13 percent interest for 20 years All loans tequire monthly payments and are fully amorizing. Required: a. With no preference other than financing, which property would you choose? b. Which property would you choose if the seiler of Property B provided a second mortgage for $21,600 at the same 9 percent rate as the assumable loan? c. Which property would you choose if the seller of Properfy B provided a second mortgage for $31,600 at the same 9 percent rate as the assumable loan so that no additional down payment would be requred by the buyer if the loan were assumed

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