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Question 11 (1 point) An existing office building has expected NOI of $750,000, and the cap rate is 6%. A 30-year full-amortizing loan is available
Question 11 (1 point) An existing office building has expected NOI of $750,000, and the cap rate is 6%. A 30-year full-amortizing loan is available with monthly payments. The annual interest rate on the loan is 5%. The maximum LTV is 70%. The minimum debt service coverage ratio is 1.35. What is the maximum loan amount based on this information? Excel $8,750,000 $8,642,149 $7,500,000 $7,015,061 $5,220,202
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