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A buyer is considering the purchase of an income property The proposed selling price is $ 1,670,000. The buyer...

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A buyer is considering the purchase of an income property The proposed selling price is $ 1,670,000. The buyer has obtained a mortgage from a bank that has informed him that the loan ratio for such a purchase is 75% with a monthly loan constant of 0 013996 and a 15-year term. What will the buyer's down payment and annual debt service be, respectively?

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To calculate the buyer s down payment and annual debt service we ll use the information provided 1 S View the full answer


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Business Law The Ethical Global and E-Commerce Environment

Business Law The Ethical Global and E-Commerce Environment

ISBN: 978-1259917110

17th edition

Authors: Arlen Langvardt, A. James Barnes, Jamie Darin Prenkert, Martin A. McCrory

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Question Details
Chapter # 18
Section: Problems
Problem: 10
Posted Date: September 13, 2023 01:30:21
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