Question 1. of 15.) You have an opportunity to purchase a rental property with an amortizing loan that charges 10% annually, and which has a 30-year amortization term. The maximum monthly payment that you are able to afford is $770. If you are able to make a down payment of $18,900, what is the maximum price that you can afford to pay for the property? Hint: Calculate the property’s present value given the restrictions that you have.
Aug 23

Question 1. of 15.) You have an opportunity to purchase a rental property with an amortizing loan that charges 10% annually, and which has a 30-year amortization term. The maximum monthly payment that you are able to afford is $770. If you are able to make a down payment of $18,900, what is the maximum price that you can afford to pay for the property? Hint: Calculate the property’s present value given the restrictions that you have.

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