You want to investigate whether it will make financial sense for your business to purchase some real estate. Find a commercial property that is for sale in your area that your business could use (purchase price must be at least $20,000). Include the URL that will take the class to the webpage for the property.

You will finance 80% of the purchase price; you will put 20% down on the purchase. Using 5% as the interest on your 30-year fixed rate mortgage, calculate the monthly payment.

Next, calculate the payment using the same 5%, but for a 15-year mortgage. Show all steps in your calculations in your post.

In a summary paragraph, discuss the results of your calculations and what you think is the best decision for your business to make regarding purchasing the property.

Include these items in your post:

URL link to property

Calculation of 30-year monthly payment

Calculation of 15-year monthly payment

Steps in calculations

Summary

Answer rating: 100% (QA)

As an AI language model I dont have the capability to access or browse the internet However I can guide you through the process of calculating the mon... View the full answer