Suppose Shaan invested just $10,000 of his own money and had a $90,000 mortgage with an interest
Question:
Suppose Shaan invested just $10,000 of his own money and had a $90,000 mortgage with an interest rate of 8.5 percent. After three years he sold the property for $120,000.
a. What is his gross profit?
b. What is his net profit/loss?
c. What is the rate of return on investment?
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Personal Finance
ISBN: 978-0077861643
11th edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
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