gregorygarver.com

[kirkm]

Jim can buy a certain house today for $300,000.00Next year, the same house will cost Jim 10% less, or $250,000.00How much money will Jim if he waits 1 year to buy that house?Is this correct? $300k - $30k (10%) = $270k$30k savings divided by 52 weeks in a year = $576.00 a week earned.OR$2500.00 a month to NOT buy that house.can you figure that the small % paid toward principal the first year is a wash with the closing costs?$50k / 365 days in a year = $137.00 a day or $4, 167.67 a month.

[bluddy_well_pissed]

No clue.

[Normefoo]

For starters- 10% less would make the home $270,000 and not $250,000 so that part is a little confusing.In your question you seemingly left out a word... "How much money will Jim if he waits 1 year to buy that house?" so it is really difficult to answer that question as we don't know what the question is. I would assume it is a simple math question asking how much 10% of $300,000 is which would be $30,000, but as the question is unclear- so is the answer.If you want to add in the potential interest and principal he would have paid this year- you would need to know the rate at which that money is being financed- again impossible to answer with the information provided.

[Mike6664]

You do not have enough info to answer the question. What is the loan rate? Why would he be paid $2500 NOT to buy a house? Your question makes no sense!