There are two offers on a property listed at $185,000. Mr. Smith is offering $183,000 cash. Ms. Jones's offer consists of $100,000 cash and a mortgage back to the vendor for $90,000 at a rate of 7.5% compounded semi-annually and payments of $700 per month for a three-year term. If current three-year rates are 9.5% compounded semi-annually, what is the equivalent cash value of Ms. Jones's offer?

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The Answer of There are two offers on a property listed at $185,000. Mr. Smith is offering $183,000 cash. Ms. Jones's offer consists of $100,000 cash and a mortgage back to the vendor for $90,000 at a rate of 7.5% compounded semi-annually and payments of $700 per month for a three-year term. If current three-year rates are 9.5% compounded semi-annually, what is the equivalent cash value of Ms. Jones's offer?

There Are Two Offers on a Property Listed at $185,000