Question: fill out this schedule... can you also provide the steps?? ty! Construction Loan Loan amount 50% in equal draws January-April 50% in equal draws May-November

 fill out this schedule... can you also provide the steps?? ty!

fill out this schedule... can you also provide the steps?? ty!

Construction Loan Loan amount 50% in equal draws January-April 50% in equal draws May-November 10% of each draw retained till December 103,275,000.00 Months 4 Monthly draws Monthly draws Interest rate Annual rate 0.63% Monthly rate Retainage 10.00% Beginning of Month Actual Draw End of Month Loan Balance Period Amount Retainage Interest 1-Jan-14 1-Feb-14 1-Mar-14 1-Apr-14 1-May-14 1-Jun-14 1-Jul-14 1-Aug-14 1-Sep-14 1-Oct-14 1-Nov-14 1-Dec-14 Total Loan amount, above Interest amount, above Total construction loan to be repaid by permanent financing proceeds

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!