Jena and Michelle decide to form a partnership to invest in Real estate. On June 30th, they purchased a 40-unit residential building with 10,000 square feet of retail space on the ground floor for $1,750,000. They obtained a first mortgage on the property in the amount $1,200,000 with a condition that Jena had to Guarantee the loan. Jena contributed cash of $200,000 and Michelle contributed $350,000. a) Calculate the ending capital for each partner

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Jenas Initial Investment Cash Contribution Loan Guaranteed Jenas Initial Investment 200000 1200000 ... View the full answer