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Four years ago, Sam purchased a vacant lot for $10,000. He just sold it for $13,000. During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass cutting and $90 per year on miscellaneous expenses. How much did Sam gain or lose on the sale?

Sagot :

Tundexi

The amount that Sam gain on the sale equals $640.

What is the amount paid by Sam?

In this calculation, In four years, he would pay $2,360 in taxes, maintenance and miscellaneous expenses

Hence, this makes the vacant lot worth $12,360 ($10,000 + $2,360).

Therefore, the amount that Sam gain on the sale equals $640.

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