An investor buys a property for $608,000 with a 25-year mortgage and monthly payments at 8.10% APR. After 18 months the investor resells the property for $667,525. How much cash will the investor have from the sale, once the mortgage is paid off?

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C) The first step is to calculate the monthly payment using a present value (PV) of $608,000, monthly interest rate of 11ea84dc_f573_0a05_9a63_a11ea149e82c_TB1316_11_TB1316_11 and 300 periods, 11ea84dc_f573_3116_9a63_93bbda285af5_TB1316_11_TB1316_11 the second step is to use that monthly payment to calculate the present value (PV) of 282 months keeping the interest rate unchanged 11ea84dc_f573_3117_9a63_ff90b29e65fc_TB1316_11_TB1316_11 finally calculate the difference between 11ea84dc_f573_3118_9a63_53b5c6d037b0_TB1316_11_TB1316_11

An Investor Buys a Property for $608,000 with a 25-Year