Question: A Moving to another question will save this response. Question 13 of 34 >>> 10 points Save Answer You are contemplating financing (interest only) on

A Moving to another question will save this response. Question 13 of 34 >>> 10 points Save Answer You are contemplating financing (interest only) on a $10,000,000 shopping center. A lender has offered a 75% loan with an interest rate of 7%. Another lender is offering a mortgage loan for 80% LTV, but wants an 8% interest rate. What is the effective interest rate on the additional debt contemplated in the second loan? Ch12 1.0% a. 12.4% b. 18.6% 23.0 % Cd. A Moving to another question will save this response. Question 13 of 34

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