You have a property under contract for $428,662. You plan to finance 80% of the purchase price. Your local mortgage banker has quoted you a rate of 5.85% for a 30-year mortgage. What will your monthly payment be on this property?

Answer should be formatted as a dollar amount rounded to the nearest cent.

Question 21 pts

Given the following information on a fixed-rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to the borrower. Loan Term: 30 years, Monthly Payment: $1,154, Interest Rate: 9.51%.

Answer should be formatted as a dollar amount rounded to the nearest cent.

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Question 31 pts

You are considering the purchase of an investment property. A local duplex has net operating income of 15,441.74%, annual taxes of $1,204, and is selling for $297,554. What is the cap rate for this property?

Answer should be formatted as a percent with 2 decimal places (e.g. 99.99).

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Question 41 pts

You are given the following information on an investment property.

Units	$25
Rent per Unit	$959
Vacancy Allowance	5%
Expenses	21.12% of net rental income
Cap Rate	7.23%

What is net operating income for this property?