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Determine how much westene resort can loan

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Reference no: EM132814106

Westene Resort has decided to purchase a building which can be renovated to a boutique hotel with 40 guest rooms in order to expand their business. Since Westene Resort has limited capital to purchase the building, it has applied a 5-year loan of $150,000 mortgage loan which will be charged at an interest of 10% per annum. The loan provider has approved the loan with Loan-to-value ratio of 70%.

problem (a) Determine how much Westene Resort can loan.

problem (b) Compute the yearly payment of the mortgage loan.

problem (c) Construct an amortization schedule for the mortgage loan.

problem (d) Find the total interest expenses on this mortgage loan.

Reference no: EM132814106

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