Question: 3.5 pts Question 28 A borrower bought a house for $250,000: he can obtain an 80% loan with a 30-year fully amortizing, 6% interest rate

3.5 pts Question 28 A borrower bought a house for $250,000: he can obtain an 80% loan with a 30-year fully amortizing, 6% interest rate and monthly payment. Assuming the marginal tax rate for the borrower is 25%. Maintain and insurance are currently $1,200 each per year, Selling cost is 6% of sale; property tax is 2% of the value each year, property value increases 5% per year. Assume that you will sell your home after one year, how much cash you will receive after pay off mortgage balance and selling cost? $49.2060 $51.129.71 $39.4060 $38,756.00

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