Question
A property is available for sale. We require an EDR of 15% on our $600,000 down payment, and we know the prospective property has an
A property is available for sale. We require an EDR of 15% on our $600,000 down payment, and we know the prospective property has an NOI of $300,000, before debt service. If we can borrow at 5% for 20 years with monthly payments, what is the most we can pay for the property, in total, to the nearest '000?
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
14th edition
1337090581, 978-1337090582
