An FHA-insured loan in the amount of $57,500 at a 6 % interest rate for 30 years was closed on March 17. The first monthly payment is not due until May 1. If the interest is paid monthly in arrears, how much pre-paid interest does the buyer owe at closing? (Use a 360-day year)

$145.32

$311.52

$551.20

$3,737.50

A building generates $103,000 in effective rental income and $900 in vending machine income. The same complex has $40,700 in operating expenses and $36,000 in debt service payments. What is the pre-tax cash flow of the complex?

$26,300

$67,900

$27,200

$62,300