A property sells for a net price of $250,000. Its adjusted basis is $175,000. The terms include closing costs down and a $ 250,000 wraparound contract for deed payable not less than interest only monthly at 10% per year, all due in 10 years. This contract for deed is subject to an existing assumable loan balance of $100,000. 

How much will the last payment be at the end of the contract?

Answer rating: 100% (QA)

To calculate the last payment on the 250000 wraparound contract for deed we need to use the formula ... View the full answer