Question: PUT ANSWER IN TWO DECIMAL PLACES 17. You are going to invest in a commercial warehouse for $470,000. You have enough cash that you are

PUT ANSWER IN TWO DECIMAL PLACES

17. You are going to invest in a commercial warehouse for $470,000. You have enough cash that you are indifferent between an 80% ora 95% LTV mortgage. You talk to your lender and are given the following options: a. You can get an 80% loan at 2.8% for 20 years b. You can get a 95% loan for 3.2% for 20 years. What is the incremental cost of financing the marginal 15% if you take the second loan, assuming that you will stay in the loan for all 20 years? Please put your answer in percentage with two decimal places for instance put 7.63 for 7.63%. Please enter a positive value

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