Homework Answers
Actual cost to be charged on Mortgage payments per Month = 1020-516 = $504
Calculation Of Rent to make profit $4600 each year
Actual cost to be charged on Mortgage payments per Year = 504*12 = 6048
Real estate taxes = 1452
Insurance costs = 1224
Maintenance of apartments @1548 per apartment (1548*2) = 3096
Total costs = $11820
Target Profit after total cost = $4600
Monthly rent to be charged for Duplex Apartment = 16420/12 = $1368.33
So Rent Per Apartment to be Charged = $684.17
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