An investor buys a property for $666,000 with a 25-year mortgage and monthly payments at 6.5% APR.
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Question:
An investor buys a property for $666,000 with a 25-year mortgage and monthly payments at 6.5% APR. After 18 months the investor resells the property for $727,140.
How much cash will the investor have made from the sale, once the mortgage is paid off?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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