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You are using a $2,000,000 7% 10-year FRM mortgage to finance a $3,000,000 hotel with an annual NOI of $312,000 Suppose the property value at

You are using a $2,000,000 7% 10-year FRM mortgage to finance a $3,000,000 hotel with an annual NOI of $312,000

Suppose the property value at the end of year 5 is $3,500,000. What is the investors equity at the end of year 5?

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