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1 1 ) Assume the NOI is projected at $ 4 5 0 0 0 0 and an interest - only mortgage is obtained at

11) Assume the NOI is projected at $450000 and an interest-only mortgage is obtained at 4.75% annual interest rate (payments are made monthly). The lender is willing to lend 2700000. What is the macimum LTV, if going in cap rate is 10%? Options: 75% or 60% or 80% or 65%.

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