A real estate investor is considering the purchase of a four - unit office building and has
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Question:
A real estate investor is considering the purchase of a fourunit office building and has the following information. The purchase price is $ with $ in acquisition costs. The project can be financed with a first mortgage of $ at an interest rate of percent for years, monthly payments. Financing costs discount points, etc. are estimated at percent of the loan amount. There is a prepayment penalty of percent of the outstanding balance if the loan is paid off within the first years of the mortgage life. The property will be sold and mortgage loan repaid at the EOY
What is the total debt service for year
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