Ms Romero paid 60,000 down on an apt house and then paid off

Question

Ms Romero paid 60,000 down on an apt house and then paid off the mortgage of 140,000 in equal monthly payments over a 25 year period. At the end of how many years from the time she purchased the property was her total net income from the rentals equal to her down payment? 
 
(1) after the monthly mort payment and all other expenses had been deducted from the rental income, Ms Romero had a net income of $500 per month from the rentals
(2) The annual interest rate on her mortgage was 10.5 percent

durgesh79 · Answer

A.

The question is, what is 60000/monthly net income.

statement 1 : gives us monthly net income directly... suff

statement 2 : we have interest rate, but we dont know the rent and other expenses, so net monthly income can not be calculated. Not Suff

x97agarwal · Answer

IMO A. Agree with previous explanation.

judokan · Answer

(1) alone is sufficient because it says the net income from rental is $500 per month, which nets all “other expenses” including interest.

(2) alone is not sufficient. Because we don’t know the other expenses besides interest.

So, (A)

Ms Romero paid 60,000 down on an apt house and then paid off

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