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please show the math used to find the solution As a loan officer at Last National Bank, you have been asked to make a recommendation

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As a loan officer at Last National Bank, you have been asked to make a recommendation as to the maximum loan that your bank should extend to the potential buyer of the Norad Shopping Center. The rent roll is given below. Market research indicates that the current market rental for leasing a comparable vacant unit is $22.00 per square foot per year. Your research also indicates that the market rent is expected to increase by 2.20% annually Calculate the total gross rents for the next 11 years. A template has been provided to assist you. RENT ROLL LEASE TYPE TERM REMAINING CURRENT RATE SIZE(SF) TENANT TomFoolery Dance Studio 1,800 Step. $.50/year 5 years $22.60 Blue Mold Grocer 1,250 10 years $18.65 Graduated +2%/year Step, $1.50/year The $100 Store 2,000 3 years $19.75 Spendthrift S&L 2,000 6 years Step $.75/yr $21.15 Sam's Smokeshack 400 4 years Graduated +4%/year $19.10 Bill and Ted's Excellent Socks 1,500 2 years Step $.80/yr. $19.00 3,100 Flat 8 years $21.00 Dr. Phil's Pharmacy All-star Sports 2,800 3 years $18.95 Step $.75/yr. Friar Tuck Clothing 1,500 4 years S18.25 Step $1.50/yr. Needful Collectibles 500 Flat Tyear $19.00 China Palace 1,000 2 years Step $1.00/yr. $18.25 ETS Airlines 2,000 3 years S18.25 Step $1.25/yr. As a loan officer at Last National Bank, you have been asked to make a recommendation as to the maximum loan that your bank should extend to the potential buyer of the Norad Shopping Center. The rent roll is given below. Market research indicates that the current market rental for leasing a comparable vacant unit is $22.00 per square foot per year. Your research also indicates that the market rent is expected to increase by 2.20% annually Calculate the total gross rents for the next 11 years. A template has been provided to assist you. RENT ROLL LEASE TYPE TERM REMAINING CURRENT RATE SIZE(SF) TENANT TomFoolery Dance Studio 1,800 Step. $.50/year 5 years $22.60 Blue Mold Grocer 1,250 10 years $18.65 Graduated +2%/year Step, $1.50/year The $100 Store 2,000 3 years $19.75 Spendthrift S&L 2,000 6 years Step $.75/yr $21.15 Sam's Smokeshack 400 4 years Graduated +4%/year $19.10 Bill and Ted's Excellent Socks 1,500 2 years Step $.80/yr. $19.00 3,100 Flat 8 years $21.00 Dr. Phil's Pharmacy All-star Sports 2,800 3 years $18.95 Step $.75/yr. Friar Tuck Clothing 1,500 4 years S18.25 Step $1.50/yr. Needful Collectibles 500 Flat Tyear $19.00 China Palace 1,000 2 years Step $1.00/yr. $18.25 ETS Airlines 2,000 3 years S18.25 Step $1.25/yr

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