How much can wells fargo lend to developer

Reference no: EM13199885

How much can Wells Fargo lend to developer who will repay the loan by selling first 6 view lots out of 13 lots at $190,000 each 2 year from now? Assume the bank will lend at a nominal 14% per year, compounded semiannually.

Reference no: EM13199885

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