A 20-unit apartment complex with total gross annual rents of $240K, total annual expenses of $135K,...

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A 20-unit apartment complex with total gross annual rents of $240K, total annual expenses of $135K, has to pay its debt from its Net Income. The total development costs of $1MM were carried through an interest-only 5% interest rate loan for 80%, and the remainder 20% of cost was required equity or cash. How much is the annual loan payment (Debt Service), of the 5% interest rate loan on 80% of the total cost of $1MM? 50,000 O 20,000 80,000 40,000 A 20-unit apartment complex with total gross annual rents of $240K, total annual expenses of $135K, has to pay its debt from its Net Income. The total development costs of $1MM were carried through an interest-only 5% interest rate loan for 80%, and the remainder 20% of cost was required equity or cash. How much is the annual loan payment (Debt Service), of the 5% interest rate loan on 80% of the total cost of $1MM? 50,000 O 20,000 80,000 40,000

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