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You are seeking to buy an industrial park using a downpayment and a commercial mortgage. The industrial park's sale price is $10,000. The commercial mortgage
You are seeking to buy an industrial park using a downpayment and a commercial mortgage. The industrial park's sale price is $10,000. The commercial mortgage lender has a LTV requirement for their industrial loans. Mortgages they issue in this sector can't have a LTV higher than 74%. Following only the lender's LTV requirement, what's the largest commercial mortgage you can obtain from the lender? Write your answer up to cents (e.g. if you get $106.63898, write 106.64)
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