Question: Problem 7: (15) Given: Construction Loan, P = $5,000,000, Discount = 1%, i = 14%, project duration = 5 years. Long-term mortgage starts at end

Problem 7: (15) Given: Construction Loan, P =

Problem 7: (15) Given: Construction Loan, P = $5,000,000, Discount = 1%, i = 14%, project duration = 5 years. Long-term mortgage starts at end of yr. 5, term of loan is complete at end of yr. 20, i = 7% Find: 1. Deferred payment amount (Ad) from EOY 6 through EOY 20. (10) 2. Total finance charges paid on the construction loan

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