1. You purchased two condos for $100,000 cash down, with loan and insurance payments of $1,500 3 month for the next 10 years. Your association fees are $150 amonth. You plan to rent out one of the condos to cover 80% of your housing expenses. What rent amount do you need to charge your tenant?
1. You purchased two condos for $100,000 cash down, with loan and insurance payments of $1,500 3 month for the next 10 years. Your association fees are $150 amonth. You plan to rent out one of the condos to cover 80% of your housing expenses. What rent amount do you need to charge your tenant?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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1. You purchased two condos for $100,000 cash down, with loan and insurance payments of $1,500 3 month for the next 10 years. Your association fees are $150 amonth. You plan to rent out one of the condos to cover 80% of your housing expenses. What rent amount do you need to charge your tenant?
Transcribed Image Text:1. You purchased two condos for $100,000 cash down, with loan and insurance payments of $1,500 a month for the next 10 years. Your association fees are $150
a month. You plan to rent out one of the condos to cover 80% of your housing expenses. What rent amount do you need to charge your tenant?
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