An investor buys a property for $672,000 with a 25-year mortgage and monthly payments at 83% APR. After 18 months the investor resells the property for $738,248 How much cash will the investor have made from the sale, once the mortgage is paid off? OA. $110,737 OB. $158,196 OC. $63,278 OD. $79,098
An investor buys a property for $672,000 with a 25-year mortgage and monthly payments at 83% APR. After 18 months the investor resells the property for $738,248 How much cash will the investor have made from the sale, once the mortgage is paid off? OA. $110,737 OB. $158,196 OC. $63,278 OD. $79,098
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:An investor buys a property for $672,000 with a 25-year mortgage and monthly payments at 8.3% APR. After 18 months the investor resells the property for $738,248, How much
cash will the investor have made from the sale, once the mortgage is paid off?
OA. $110,737
OB. $158,196
OC. $63,278
OD. $79,098
COCIT
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