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A construction loan is made on a project with 3 distinct parts - an office complex, a multifamily tower and a hotel. The costs of
A construction loan is made on a project with distinct parts an office complex, a multifamily tower and a hotel. The costs of the components are: $ million, $ million and $ million respectively. The loan is for $ million LTC that is allocated across the projects. The developer is thinking they might sell a part of the project at some point within a year of completion stabilization. If the release amount is of the allocated loan amount, what would be the required loan paydown if the developer sold the apartment tower? Group of answer choices about $ million about $ million about $ million about $ million
A construction loan is made on a project with distinct parts an office complex, a multifamily tower and a hotel. The costs of the components are: $ million, $ million and $ million respectively. The loan is for $ million LTC that is allocated across the projects. The developer is thinking they might sell a part of the project at some point within a year of completion stabilization. If the release amount is of the allocated loan amount, what would be the required loan paydown if the developer sold the apartment tower?
Group of answer choices
about $ million
about $ million
about $ million
about $ million
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
9780073526706
