Suppose you invested just $20,000 of your own money and had a $130,000 mortgage with an interest
Question:
Suppose you invested just $20,000 of your own money and had a $130,000 mortgage with an interest rate of 7.5 percent. After one year you sold the property for $180,000.
(a) What is your gross profit?
(b) What is your net profit?
(c) What is your percent rate of return on investment?
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Related Book For
Personal Finance
ISBN: 9781264101597
14th Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
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