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

Multiple Choice

An investor buys a property for $640,000 with a 25-year mortgage and monthly payments at a quoted APR of 8%.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) $63,218
B) $72,412
C) $85,082
D) $92,644
E) $72,000