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The home for sale is listed at $150,000.00. They have $30,000.00 for a down payment and are qualified for a fixed rate 30-year mortgage with an annual interest rate of 4.2%.
The rental home is currently $900.00 per month, with rent expected to increase approximately $75.00 every 4 years.

What is the total first-year cost when renting the home?
a. 10,800.00
b. 11,400.00
c. 11,200.00
d. 900.00

Respuesta :

It is a hope it helps
  • Total price=$150000
  • Rental price is $900 per month
  • The rate will increase in annual rate of 4.2%
  • First year no increase in interest.

Annual rent of first year

[tex]\\ \sf\longmapsto 900(12)[/tex]

[tex]\\ \sf\longmapsto 10800\$[/tex]

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