Question: Question 2 3 ( 2 points ) A retail shopping center is purchased for $ 2 . 1 million. During the next four years, the

Question 23(2 points)
A retail shopping center is purchased for $2.1 million. During the next four years, the property appreciates at 4 percent per year. At the time of purchase, the property is financed with a 75 percent loan-to-value ratio for 30 years at 8 percent (anaual) with monthly payments and amortization. At the end of year 4, the property is sold with 8 percent selling expenses.
(2)What is the net sale proceeds?
Question 2 3 ( 2 points ) A retail shopping

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