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22) The local commercial bank finances complexes of 10 to 25 unit office suites. In an interview with the chief credit officer, the appraiser learns

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22) The local commercial bank finances complexes of 10 to 25 unit office suites. In an interview with the chief credit officer, the appraiser learns that the typical loanto-value is 75%. The typical loan rate is 7.5% with 25 years of monthly payments. The bank has a strict: 1.2 debt coverage ratio to grant the loan. The contacted price is $950,000. The property will produce $145,000 in net operating income. What size payment is supported by the property using the bank's criteria? A) $12,083 B) $12,100 C) $14,500 D) $10,069

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