Find out the size of loan and amount that will have to be

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Question. An investor is considering purchasing an apartment complex for $240,000. A loan for 20 years at 75 percent of the purchase price is available at 10 percent.

a. Determine the size of the loan and the amount that will have to be put up in cash. Assume the annual mortgage payment is $21,142.

b. The investor intends to hold the property for three years and then sell it. He is going to compute net operating income for the first year and then assume that amount will grow by 5 percent over the next two years.

Reference no: EM13395496

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