You have located a warehouse property to purchase at a price of $320,000. You plan to make a 20% downpayment of $64,000. Interest rates are rising quickly, but youve managed to secure a fixed-rate commercial mortgage at 4.5%. Commercial mortgages are typically much shorter than consumer mortgages like home loans, so the lender has offered you a 10-year term.

What is the monthly interest rate for this mortgage? 4.5\% 4.2\% 0.425% 0.375% Let's say that your company was not able to get a commercial mortgage with a 4.5% interest rate, and instead the lender would only offer the loan at a 5.5% interest rate. What is the new monthly interest rate? 1.2% 5.5% .753% 0.458%