In order to buy a rental property you have to take a loan on $400,000 for 30 years, at the annual interest rate of 8%. The loan installments have to be paid monthly. The property is expected to give revenue of $36,000 per year, for those 30 years, also paid in monthly installments (we assume that there is no increase in rent from one month to another). Will you be able to cover the loan payments from the rental income?
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