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In the following conversation between two work colleagues (Peter and Juan), Peter
explains to Juan how he uses and manages his money in his private/personal life.
From the context, try to guess what the meaning of the words/phrases in bold are.
Then do the quiz at the end to check if you are right.
Peter:'Yes, I do. It's mine. I purchased it 5 years ago. And you? Do you own your
house?'
Peter:'If you don't mind me asking, how much money do you pay in rent each
month?'
Juan:'I pay £900 each month to the owner of the property. But I want to buy
a property, you know a house or an apartment.'
Juan:'So, what is your house worth now? How much money could you sell it for?'
Peter:'A similar house in my street was sold for £360,000 last month. So I
suppose it's now worth between £360,000 to £370,000. So, if I could sell it I
would make a loss of about £80,000. But to be honest, I think when I bought the
house, I overpaid. 5 years ago, my house wasn't worth £450,000. I should have
paid £420,000 for it at most.'
Peter:'Yes, I have. But the property I had before my current house, I made a
profit when I sold it, a very big profit. When I bought it, I paid £92,000 When I sold
it 8 years later, it was worth £230,000. So, I made a profit of £138,000.'
Quiz
4. An adjective which means the amount of money that you should get/obtain if you
sold something, is _________
6. When you pay more money for something you have bought than you should, is
________
7. A noun which means the amount of money that you should get/obtain if you sold
something, is _________
8. When you sell something for less money than what you bought it for, you _____
10. When you sell something for more money than what you bought it for, you
____
11. When you pay money to live in a house that another person owns, is________
12. A verb which means the 'quantity of money you have to pay' to buy or use an
object or service, is _________
13. A verb which means the 'quantity of money you have to pay' to use a service,
is_________