Mathematics, 09.02.2021 02:40 ashtonfordham987
Samantha wants to buy a house and plans to rent the apartment located in the basement for extra income. The house has a purchase price of $200,000 and she will make a 10% down payment. Samantha has qualified for a 30 year mortgage with a fixed rate of 5.875%. Approximately how much rent should she charge for the apartment in order to cover her monthly mortgage payment if she only wants to spend $500 a month of her own money?
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