An Investor Buys a Property for $640 000 with a 25-Year

question 31

Multiple Choice

An investor buys a property for $640 000 with a 25-year mortgage and monthly payments at 8% APR. After 18 months, the investor resells the property for $712 000. How much cash will the investor have made from the sale, once the mortgage is paid off?

• A)$72 412
• B)$84 825
• C)$92 644
• D)$63 218

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Definitions:

Behavior Contracting

A therapy technique where individuals agree on a written contract that specifies desired and undesired behaviors and the consequences of each.

Behavioral Therapists

Professionals who treat mental health disorders by focusing on modifying dysfunctional behaviors through various techniques and interventions.

Psychoanalytic

Pertaining to a set of theories in psychology that focus on unconscious processes influencing behavior and thoughts.

Rational-emotive Therapy

A psychotherapeutic approach that focuses on resolving emotional and behavioral problems by confronting irrational beliefs and changing them into rational ones.