Question
Amy just purchased a building that is 10 years old for $1,000,000 and is considering selling it after 8 years. She financed her purchase with
Amy just purchased a building that is 10 years old for $1,000,000 and is considering selling it after 8 years. She financed her purchase with a 30-year, 75% loan at 10% interest (monthly payments). What is the annual interest payment for year 5? (Choose the nearest value)
| a. | $730,516 | |
| b. | $78,981 | |
| c. | $72,772 | |
| d. | $724,307 |
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Real Estate Finance And Investments
Authors: William Brueggeman, Jeffrey Fisher
17th Edition
1264072945, 978-1264072941
