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Aero Manufacturing needs more space. It desires to purchase a building. It has bee offered the following terms from the seller of the building. 30

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Aero Manufacturing needs more space. It desires to purchase a building. It has bee offered the following terms from the seller of the building. 30 year term, with monthly payments, secured by a mortgage on the building The implicit interest rate is 6% The present value of the building is $900,000. How much is Aero's monthly payment to the seller? (ignore any taxes, fees, or insurance) Your Answer: Answer Question 8 (1 point) Ledger Real Estate Holding, desires to sell a building worth $900,000. Prevailing interest rates for 30 -year mortgages, requiring monthly payments, are around 6% for businesses with good credit. Ledger's prospective buyer, Aero Manufacturing, has a poor credit rating. For that reason, Ledger will only accept an offer from Aero, if that offer provides a 10% rate of return. What is the monthly payment to Ledger from Aero at the higher rate of interest (10\%)

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