Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Given the following, calculate the total interest carried over the life of the construction loan. Total Project Value $10,272,536 LTVR 84% Loan Amount 12 Interest
Given the following, calculate the total interest carried over the life of the construction loan. Total Project Value $10,272,536 LTVR 84% Loan Amount 12 Interest Rate 4.796 Draw No. Draw Amt 96 complete this cumulative 96 period complete Cumulative Principal Interest Carry 12.096 2 22.06 3 371096 4 48.5% 5 58.596 0 66.596 7 73 595 18 77596 82.596 10 87.0% 94.096 12 100.0% Given the following, calculate the total interest carried over the life of the construction loan. Total Project Value $10,272,536 LTVR 84% Loan Amount 12 Interest Rate 4.796 Draw No. Draw Amt 96 complete this cumulative 96 period complete Cumulative Principal Interest Carry 12.096 2 22.06 3 371096 4 48.5% 5 58.596 0 66.596 7 73 595 18 77596 82.596 10 87.0% 94.096 12 100.0%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started