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Question 9 (6 points) You purchased the Horizon Building last year for $18,000,000. You financed the purchase with a 60% LTV loan. You just sold
Question 9 (6 points) You purchased the Horizon Building last year for $18,000,000. You financed the purchase with a 60% LTV loan. You just sold the building for $22,000,000. Answer the following questions: 1. How much equity did you invest? (Round to the nearest dollar and put a $ sign in front.) 2. What was your equity return on investment? (Round to one decimal place and follow with a % sign.) 3. If you had paid for the property with all cash (no debt), then what would have been your equity return on investment? (Round to one decimal place and follow by a % sign.) 3 A AJ
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