If a property has a mortgage balance of $420,000 and a value of $419,000, how...

80.2K

Verified Solution

Question

Finance

If a property has a mortgage balance of $420,000 and a value of $419,000, how much will the property need to rise in value for a purchaser to make a profit if they purchase the property for $421,000 subject to the existing mortgage?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students