Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the figure below, calculate the percentage of revenue to the lender based on the monthly construction draw schedule. The project assumes a discount

image text in transcribed

Using the figure below, calculate the percentage of revenue to the lender based on the monthly construction draw schedule. The project assumes a discount rate of 10%, and is for a 25-acre tract of land outside Lexington, KY. Construction Sales Revenue Month Draw (Lot Sales) 0 509,600 0 1 327,600 0 23456 327,600 0 327,600 0 109,200 226,100 109,200 226,100 109,200 226,100 7 0 455,525 17 8 0 455,525 9 0 455,525 10 0 455,525 The % of revenue to the lender is 137.4% 72.8% 131.2% 76.2%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Managerial Finance

Authors: Lawrence J. Gitman, Chad J. Zutter

13th Edition

9780132738729, 136119468, 132738724, 978-0136119463

More Books

Students also viewed these Finance questions

Question

8 for 0 Answered: 1 week ago

Answered: 1 week ago

Question

How eff ectively will your products meet these needs?

Answered: 1 week ago