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Mort Silver owns a home. He estimates his expenses as mortgage interest, $10,180; property taxes, $3,690; insurance, $833; depreciation, $3,800; maintenance and repairs, $900; lost interest income, $2,375; and utilities, $2,450. He expects to save $3,700 in income taxes. What is his net cost of home ownership?

Respuesta :

Samawati

Answer:

$17,528.00

Explanation:

The net cost of home-ownership will be the expenses minus savings.

Mortgage interests: $10,180

Property taxes :$3,690

Insurance :$833

Depreciation :$800

Maintenance and repairs :$900

Loss interest income :$2,375

Utilities: $2,450

The total expenses

= $10,180 + $3,690 + $833 + $800 + $900 + $2,375 + $2,450

=$21,228

Savings

=$21,228 - $3,700

=$17,528.00

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