SOLUTION: Please help me with this word problem.
1. A house was bought for $50,000 and was sold 15 years later for $95,000. Find the effective yield.
Thank you very much
Algebra.Com
Question 39253: Please help me with this word problem.
1. A house was bought for $50,000 and was sold 15 years later for $95,000. Find the effective yield.
Thank you very much
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Well the gross profit was $95,000 - $50,000 = $45,000
If we divide that by 15 years, we get an annual yield of
$3,000 per year.
RELATED QUESTIONS
Sam bought a house for $450 000 and sold it 4 years later for $586 000. What is his... (answered by Theo)
Kim's Mother Bought A House For 2 000 000 And Made A Down Payment Of 20%. What Was The... (answered by mananth)
A house was sold for $2 850 000. The house is 20 m by 15 m.? What was the price per... (answered by solver91311)
Assume that your aunt sold her house on December 31, and to help close the sale she took... (answered by Theo)
Justin bought a house for 480 000. He paid a deposit of 150 000 and secured a loan for... (answered by jorel1380,MathTherapy)
H. LTD consolidated financial statement on 31 December 2020 was as follows;
Credit sales (answered by ikleyn)
A man bought a house and had some renovations done. The renovations cost 16 of the price... (answered by Theo)
a house was brought in 2016 for £220,000. it was increased in value and was sold in 2020 (answered by Boreal,ikleyn)
The results of a recent survey indicate that the average new car costs $23,000 with a... (answered by Theo)