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A lender requires a 1.3 debt coverage ratio as a minimum. The net operating income of a property is $118,600. What is the maximum loan

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A lender requires a 1.3 debt coverage ratio as a minimum. The net operating income of a property is $118,600. What is the maximum loan you would expect to negotiate if a lender is offering a 30 year self- amortizing loan structure at an annual rate of 7% (with monthly payments)? (rounded) Ch11 a. $798,700 b. $869,400 c. $988,100 d. $1,142,700

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