Part I:a.) What is a mortgage constant and how is it used in real estate finance?

b.) Calculate a mortgage constant assuming the following loan parameters: 20 year monthly amortization and 5% interest rate. (Hint: assume a $1.00 loanamount in your calculation)

c.) Given the mortgage constant found in part B, an NOI of $156,000 and DSCR of1.25, please calculate the largest loan amount that applies in this situation.