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Solve the Problem. -Margaret Takes Out a Loan on a Fixer-Upper House. She

Question 445

Multiple Choice

Solve the problem.
-Margaret takes out a loan on a fixer-upper house. She then spends $4998 in repairs and improvements. She sells the house for $88,320. If the pay-off for the loan that she took out to buy the house is $73,101, what is her net? Is
It profit or loss?


A) -$20,217, loss
B) $10,221, profit
C) $20,217, profit
D) $166,419, profit

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