QUESTION 14 After searching for several months, you found a home you'd like to buy for rental property. You plan to make an offer of $275,000. Since you don't want to the up cash in one property, you plan to finance the purchase after a 15% down payment. You'd like to know what the monthly payments will be in order to set a monthly rental amount. You have narrowed your choices and have found a house worth $275,000 After talking to several banks that do business loans, you have decided this is the best offer Terms 5 years. Can be renewed after 5 years pending loan committee approval Amortized over 15 years After 5 years, the bank has offered to renew your loan for the rental property. They are offering y the same 15 years amortization. Your loan payment during the last 5 years has been excellent and the bank is offering you a loan rate of Loan Rate: 6.75% Based on the balance of the loan after five years, what is your new loan payment? OA $2,333 OB.$1,854 OC.$ 1,650 D.$ 1,960 QUESTION 14 After searching for several months, you found a home you'd like to buy for rental property. You plan to make an offer of $275,000. Since you don't want to the up cash in one property, you plan to finance the purchase after a 15% down payment. You'd like to know what the monthly payments will be in order to set a monthly rental amount. You have narrowed your choices and have found a house worth $275,000 After talking to several banks that do business loans, you have decided this is the best offer Terms 5 years. Can be renewed after 5 years pending loan committee approval Amortized over 15 years After 5 years, the bank has offered to renew your loan for the rental property. They are offering y the same 15 years amortization. Your loan payment during the last 5 years has been excellent and the bank is offering you a loan rate of Loan Rate: 6.75% Based on the balance of the loan after five years, what is your new loan payment? OA $2,333 OB.$1,854 OC.$ 1,650 D.$ 1,960