Joe is considering investing in a residential triplex, Financial Management

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Joe is considering investing in a residential triplex

Joe is considering investing in a residential triplex project that he believes will provide $14,980 per year for debt service. If the triplex costs $172,000 to build and he can get a mortgage with monthly payments for 25 years at 9% interest, how much will Joe’s equity investment be? Enter your answer to the nearest penny with no punctuation other than a decimal point. Do not enter commas or dollar signs.

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Financial Management: Joe is considering investing in a residential triplex

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