1 answer:
Step-by-step explanation:
A.
Cost of 4 lots for $48,000= 48000*4
=$192,000
Sales made from all 7 lots = 33000*7
= $213,000
Profit =213,000-192,000
Profit =$39,000
Percent profit =(39000/192000) *100
=0.20*100
=20%
B.
Total interest formula=
Principal Loan Amount x Interest Rate x Time
Interest =30000x0.12x5
Interest = $18,000
Monthly payments for 5 years
= 18000/12*5
=18000/60
=$300
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