Mr lucas wants to purchase an apartment as a form of investment. The apartment is advertised at $900 000. Stamp duties and legal fees are charged at 2% and 1% respectively based on the transacted price of the purchase.
Calculate the total amount Mr Lucas needs to pay if he manages to get a 4% discount off the advertised price.
Calculate the total amount Mr Lucas needs to pay if he manages to get a 4% discount off the advertised price.
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4% discount off the advertised price.
$900 000. (4%)=36,000
reduced price
$900,000-$36,000= $ 864, 000
Stamp duties 2%
$ 864, 000( 2%)= A
legal fee 1%
$ 864, 000(1%)=B
total duties and fee
A+B= C
total amount Mr Lucas needs to pay
$ 864, 000 -C. do the maths.
$900 000. (4%)=36,000
reduced price
$900,000-$36,000= $ 864, 000
Stamp duties 2%
$ 864, 000( 2%)= A
legal fee 1%
$ 864, 000(1%)=B
total duties and fee
A+B= C
total amount Mr Lucas needs to pay
$ 864, 000 -C. do the maths.