I will 5 upvotes Jerry bought an apartment for $1.45 million with a mortgage loan. He put $0.33 million as down payment and borrowed the rest. One day after the purchase, the value of the apartment increases by 3.2%. As a result, Jerry's home equity increases by ___ %
I will 5 upvotes Jerry bought an apartment for $1.45 million with a mortgage loan. He put $0.33 million as down payment and borrowed the rest. One day after the purchase, the value of the apartment increases by 3.2%. As a result, Jerry's home equity increases by ___ %
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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Don't use chatgpt,,,, I will 5 upvotes
Jerry bought an apartment for $1.45 million with a mortgage loan. He put $0.33 million as down payment and borrowed the rest. One day after the purchase, the value of the apartment increases by 3.2%. As a result, Jerry's home equity increases by ___ %. (Keep at least two digits after the decimal point).
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