Question: When buying a $1,000,000 property, what is the incremental borrowing cost between the following two loan alternatives; Loan #1 for 75% LTV at 4% for

When buying a $1,000,000 property, what is the incremental borrowing cost between the following two loan alternatives; Loan #1 for 75% LTV at 4% for a 10 year term with a 25 year amortization, and Loan #2 for 90% LTV at 11% for a 10 year term with a 25 year amortization? Rounded to hundredths. 4% 3.24% 38.90% None of the Above

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