Calculator Problem – 09/10/2012

If a house rents for $800 a month and expenses are 40% of the gross rents, how big of a loan will the net rent support if thirty year loans are 4%?

(The answer will be posted with the new calculator problem in 2 weeks. Or if you can’t wait that long, you can go to http://www.facebook.com/pages/Gary-Johnston-Seminars/111368472221424 for the answer.)

Answer to 08/27/2012 problem:

20.17 months * 8722.11 = $175,924.96