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show me the work please A property was purchased by an investor. The property is expected to produce $200,000 of annual net operating income in
show me the work please
A property was purchased by an investor. The property is expected to produce $200,000 of annual net operating income in year 1; increasing $20,000 every year thereafter. The owner intends to sell the property at the end of year 5.
b. Assuming the mortgage has a 5% annual interest rate, amortizes over 30 years, with monthly payments. What is the principal amount of mortgage? (Note, you will need to use the information above to identify the I, N and PMT in order to solve for PV_______________
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