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An investor buys a property for $608,000 with a 25-year mortgage that requires monthly payments at...

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Finance

An investor buys a property for $608,000 with a 25-year mortgagethat requires monthly payments at 5.10% APR. After 18 months theinvestor resells the property for $667,525. How much cash will theinvestor have from the sale, once the mortgage is paid off? Roundto the nearest dollar.

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Transcribed Image Text

An investor buys a property for $608,000 with a 25-year mortgagethat requires monthly payments at 5.10% APR. After 18 months theinvestor resells the property for $667,525. How much cash will theinvestor have from the sale, once the mortgage is paid off? Roundto the nearest dollar.

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