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Rashid [163]
4 years ago
14

Peter wants to buy a duplex with a purchase price of $226,950. Peter can afford a 10% down payment. Peter earns $2,985 a month a

nd wants to spend no more than 10% of his income on his mortgage payment. Peter is going to rent out the other half of the duplex. He thinks that if he charges $900 a month in rent this will cover the remainder of his mortgage payment. Given that Peter has a 30 year mortgage with a fixed rate of 6.25%, how should Peter adjust how much he charges for rent of the other half of the duplex?
Health
2 answers:
Trava [24]4 years ago
7 0
900 * 30 = 27,.000
0.00027 / 6.25 = 0.625
bekas [8.4K]4 years ago
7 0
900 times 30= 27000
And the other answer is 0.0625
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