Question
Assume a lender requires a 1.3 debt coverage ratio as a minimum and the net operating income of a property is $86,400. What is the
Assume a lender requires a 1.3 debt coverage ratio as a minimum and the net operating income of a property is $86,400. What is the maximum loan you would expect to negotiate if a lender is offering a 30 year self-amortizing loan structure at 6% (with monthly payments)? (rounded)
| a. | $923,700 | |
| b. | $688,400 | |
| c. | $749,600 | |
| d. | $841,400 |
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Principles Of Accounting
Authors: Robert Libby, Patricia Libby, Fred Phillips, Stacey Whitecotton
1st Edition
978-0077300456, 0077300459
