You want to buy a small hotel as part of your investment portfolio. You found a hotel
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- You want to buy a small hotel as part of your investment portfolio. You found a hotel in a great location at price of $2,000,000 and signed a mortgage note with a local bank to borrow the whole amount at 6%, APR for ten-year loans with monthly payments. What is the monthly payment of principal and interest for each loan? You believe the property will be worth $4,000,000 in six years. Ignoring taxes and real estate commissions, if you sell the hotel after six years, what will be the difference in the selling price and the remaining principal on the loan for this hotel project?
Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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