Suppose that you purchase an investment property for $8 million If you purchased the property with a 15year loan for 90 of the purchase price with an annual interest rate of 10 with monthly payments and monthly compounding, what was your initial equity investment for this property

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
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Suppose that you purchase an investment property for $8 million If you purchased the property with a 15year loan for 90 of the purchase price with an annual interest rate of 10 with monthly payments and monthly compounding, what was your initial equity investment for this property

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