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Francesca O
Guest
I have to answer these two math problems and I am having problems...could you help me??
1. Your uncle purchased a house 50 years age for $22,000. Today the house is worth $280,000. What is the rate of return on the reals estate investment?
2. You borrow $180,000 to purchase a new home. The bank offers you a special 30 year loan with a 8% interest rate and you will be making ANNUAL payments. How large will each payment be? If you want to sell your house after 8 years, how much will you owe and need to pay to payoff the loan?
I really appreciate anyone who can help me with these!!!!
1. Your uncle purchased a house 50 years age for $22,000. Today the house is worth $280,000. What is the rate of return on the reals estate investment?
2. You borrow $180,000 to purchase a new home. The bank offers you a special 30 year loan with a 8% interest rate and you will be making ANNUAL payments. How large will each payment be? If you want to sell your house after 8 years, how much will you owe and need to pay to payoff the loan?
I really appreciate anyone who can help me with these!!!!