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You want to investigate whether it will make financial sense for your business to purchase some real estate. Find a commercial property that is for sale in your area that your business could use (purchase price must be at least $20,000). Include the URL that will take the class to the webpage for the property.
Problem 1: You will finance 80% of the purchase price. Using 5% as the interest on your 30-year fixed rate mortgage, calculate the monthly payment. Next, calculate the payment using the same 5%, but for a 15-year mortgage. Show all calculations in your post.
Problem 2: Using several sentences discuss the results of your calculations and what you think is the best decision for your business to make regarding purchasing the property.
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