1. Suppose an investor can acquire a property for $1,100,000 which generates a net operating income of $150,000 annually. A mortgage is available with a loan to value of 80, 25 year term, and an interest rate of 13% (fully amortized, level monthly payments). What is the monthly payment on this mortgage? Given the information above, how much principal is paid in year 3? And what is the balance due on the mortgage at the end of 15 years