Mathematics, 21.05.2021 14:00 Marcynandrew
Addicus Finch purchased a condominium on the beach for $235,000. He made a $40,000 down payment. His
annual expenses were mortgage interest of $11,700, depreciation of 3% of the purchase price of the house, and
taxes, repairs, and insurance of $15,430. He rented the condo for $3,200 per month. A) What is the annual net
income? B) What is the annual yield? (round to the nearest hundredth)
Answers: 2
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Addicus Finch purchased a condominium on the beach for $235,000. He made a $40,000 down payment. His...
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