To buy an $180,000 condominium, you put down $30,000 and take out a mortgage for $150,000 at an APR of 9% compounded monthly. Five years later, you sell the house for $205,000 (after all selling expenses are factored in). What equity (the amount that you can keep before any taxes are taken out) would you realize with a 30-year mortgage repayment term? (Assume that the loan is paid off when the condo is sold in lump sum.)

 

Alpha Geek

(8)

Status NEW Posted 23 May 2017 09:05 AM My Price 12.00

-----------

Attachments

1495532086-1777271_1_636310336301307324_1.PNG

Not Rated(0)

• Buy Answer