Question: If a borrower obtains a $5,000,000 second mortgage with an interest rate of 5.0%. The first mortgage is $15,000,000 with an interest rate of 3.5%.

If a borrower obtains a $5,000,000 second mortgage with an interest

If a borrower obtains a $5,000,000 second mortgage with an interest rate of 5.0%. The first mortgage is $15,000,000 with an interest rate of 3.5%. After the Borrower closes on the second mortgage, what is the weighted average interest rate for the two loans? 4.625% 3.875% 3.750% 4.250%

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