Use the following data for the next set of questions. A local bank has approved a...

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Use the following data for the next set of questions. A local bank has approved a $10,000,000 construction loan at 4.75% with 1.00 points. The developer is required to contribute $3,000,000 to the project, and the bank has agreed to finance the remainder subject to the $10,000,000 limit. This project can be built very quickly - in fact in 3 months. When the construction loan is closed, the 1.00 point loan fee will be charged. The monthly interest cost will be accrued on the loan, unless payments, as indicated below, are made. Compute the figures for the blanks in the table below. Remember to document your calculations. Month 1 2 3 Blank 1 = Blank 2 = Blank 3 = Blank 4 = Blank 5= Blank 6 = Funds Needed Blank 7 = 2,000,000 4,300,000 Show below how each "Blank" computed. 4,500,000 2,055,000 Equity Contribution This Month Blank 1 Blank 5 Blank 9 Blank 13 Bank Draw Blank 2 Blank 6 Blank 10 Blank 14 Bank Interest Blank 3 Blank 7 Blank 11 Blank 15 Payment to Bank 100,000 0 0 0 Bank Balance Blank 4 Blank 8 Blank 12 Blank 16 Use the following data for the next set of questions. A local bank has approved a $10,000,000 construction loan at 4.75% with 1.00 points. The developer is required to contribute $3,000,000 to the project, and the bank has agreed to finance the remainder subject to the $10,000,000 limit. This project can be built very quickly - in fact in 3 months. When the construction loan is closed, the 1.00 point loan fee will be charged. The monthly interest cost will be accrued on the loan, unless payments, as indicated below, are made. Compute the figures for the blanks in the table below. Remember to document your calculations. Month 1 2 3 Blank 1 = Blank 2 = Blank 3 = Blank 4 = Blank 5= Blank 6 = Funds Needed Blank 7 = 2,000,000 4,300,000 Show below how each "Blank" computed. 4,500,000 2,055,000 Equity Contribution This Month Blank 1 Blank 5 Blank 9 Blank 13 Bank Draw Blank 2 Blank 6 Blank 10 Blank 14 Bank Interest Blank 3 Blank 7 Blank 11 Blank 15 Payment to Bank 100,000 0 0 0 Bank Balance Blank 4 Blank 8 Blank 12 Blank 16

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Compute the figures for the blanks in the table Blank 1 Equity Contribution Bank ... View the full answer