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13. You just acquired an investment property for $5,050,000. You financed 75% of the purchase price at a 5.85% interest rate, with 25 -year amortization
13. You just acquired an investment property for $5,050,000. You financed 75% of the purchase price at a 5.85% interest rate, with 25 -year amortization (monthly compounding). You have a 5-year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) b. What will the balloon payment be at the end of the term? (Round your answer to the nearest dollar.) 14. You just acquired an investment property for $21,890,000. You financed 60% of the purchase price at a 7.65% interest rate, with 20 -year amortization (monthly compounding). You have a 7 -year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) b. What will the balloon payment be at the end of the term? (Round your answer to the nearest dollar.) 15. You just acquired an investment property for $440,000. You financed 85% of the purchase price at a 4.25% interest rate, with 30 year amortization (monthly compounding). You have a 3-year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) b. What will the balloon payment be at the end of the term? (Round your answer to the nearest dollar.) 16. You are purchasing an investment property for $9,620,000. You are able to obtain a loan with a 55% loan-to-value ratio, a 7.75% interest rate, and 25 -year amortization (compounded monthly). The loan requires you to pay a 1% loan origination fee. a. What is the total dollar amount of the loan origination fee? (Round your answer to the nearest dollar.) b. What is the actual net disbursement? (Round your answer to the nearest dollar.) 14. You just acquired an investment property for $21,890,000. You financed 60% of the purchase price at a 7.65% interest rate, with 20-year amortization (monthly compounding). You have a 7-year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) 1284180 b. What will the balloon payment be t the end of the term? (Round your answer to the nearest dollar.) 10557405 13. You just acquired an investment property for $5,050,000. You financed 75% of the purchase price at a 5.85% interest rate, with 25 -year amortization (monthly compounding). You have a 5-year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) b. What will the balloon payment be at the end of the term? (Round your answer to the nearest dollar.) 14. You just acquired an investment property for $21,890,000. You financed 60% of the purchase price at a 7.65% interest rate, with 20 -year amortization (monthly compounding). You have a 7 -year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) b. What will the balloon payment be at the end of the term? (Round your answer to the nearest dollar.) 15. You just acquired an investment property for $440,000. You financed 85% of the purchase price at a 4.25% interest rate, with 30 year amortization (monthly compounding). You have a 3-year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) b. What will the balloon payment be at the end of the term? (Round your answer to the nearest dollar.) 16. You are purchasing an investment property for $9,620,000. You are able to obtain a loan with a 55% loan-to-value ratio, a 7.75% interest rate, and 25 -year amortization (compounded monthly). The loan requires you to pay a 1% loan origination fee. a. What is the total dollar amount of the loan origination fee? (Round your answer to the nearest dollar.) b. What is the actual net disbursement? (Round your answer to the nearest dollar.) 14. You just acquired an investment property for $21,890,000. You financed 60% of the purchase price at a 7.65% interest rate, with 20-year amortization (monthly compounding). You have a 7-year term for your loan. a. Based on your loan terms, what is the annual debt service for your loan? (Round your answer to the nearest dollar.) 1284180 b. What will the balloon payment be t the end of the term? (Round your answer to the nearest dollar.) 10557405
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