You made a $50,000 down payment to buy an apartment building. you got a loan from a bank for the rest of the cost. each month, y

Question

2 years ago

8

You made a $50,000 down payment to buy an apartment building. you got a loan from a bank for the rest of the cost. each month, y

ou pay the bank $1,500 on the loan. you charge $1,000 per month to rent each of the 6 apartments. how many months will it take you to make a profit? round to the next full month.

Mathematics

2 answers:

Vinvika [58] · Answer 1 · 2022-05-03T05:48:19+03:00

Vinvika [58]2 years ago

5 0

Answer:

12 month

Step-by-step explanation:

Rainbow [258] · Answer 2 · 2022-05-03T03:30:41+03:00

Answer: 12 Months

Step-by-step explanation:

One way to solve this equation is to compare your total money spent to buy the apartment complex with the money earned by renting the apartments. Setting each expression equal lets you solve for the months. You also remembered to round up to 12 months, as 11 months was too short.