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Assume that the NOI is projected at $ 4 5 0 0 0 0 and an interest - only mortgage is obtained at 7 .

Assume that the NOI is projected at $450000 and an interest-only mortgage is obtained at 7.5% annual interest rate (payments are made monthly). What is the maximum loan amount that can be borrowed to finance the subject property if the desired debt service coverage target is 1.65x (the answer is rounded)?

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