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Fred purchased a small retail center for $350,000. Fred placed $100,000 down and obtained an interest-only loan for $250,000 at 10% annual interest. At the
Fred purchased a small retail center for $350,000. Fred placed $100,000 down and obtained an interest-only loan for $250,000 at 10% annual interest. At the end of one year, the building was sold for $410,000.
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Engineering Economic Analysis
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
9th Edition
978-0195168075, 9780195168075
