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Assume a retail shopping center can be purchased for $6.0 million. The center's first year NO/ is expected to be $489,500. A $5,000,000 loan has
Assume a retail shopping center can be purchased for $6.0 million. The center's first year NO/ is expected to be $489,500. A $5,000,000 loan has been requested. The loan carries a 4.0 percent fixed contract rate, amortized monthly over 25 years with a seven-year term. What will be the property's (annual) debt coverage ratio in the first year of operations
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