6 years ago, your company purchased a lot of land for $769203 . You received an offer to purchase the land for $1131668. If you sell it at this price, what is the implied return?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
6 years ago, your company purchased a lot of land for $769203 . You received an offer to purchase the land for $1131668. If you sell it at this price, what is the implied return?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
