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Question 1 4 pts You decide to buy a 60 unit apartment complex in Austin for $15,000,000. You have $6,000,000 to use as a dow

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Answer #1

PV of loan =9,000,000
Number of Periods =25*12 =300
Rate per month =6.24%/12
Monthly payment =PV/((1-(1+r)^-n)/r) =9000000/((1-(1+6.24%/12)^-300)/(6.4%/12)) =59314.62 (Option b is correct option)

PMT =70000
Number of Periods =25*12 =300
Rate per month =6.24%/12
PV of loan =PMT*((1-(1+r)^-n)/r) =70000*((1-(1+6.24%/12)^-300)/(6.24%/12)) =10621326.71 (Option c is correct option)

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