Dottie decides to build a beachfront home on her annual vacation island.She obtains a 75% LTV construction
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Question:
- Dottie decides to build a beachfront home on her annual vacation island.She obtains a 75% LTV construction loan on a property worth $400,000.If the loan is made at 6% interest, what is the interest payment due on this loan at the end of the nine-month construction period?
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