What is the monthly payment on this mortgage

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Reference no: EM131595486

1. Suppose an investor can acquire a property for $1,100,000 which generates a net operating income of $150,500 annually. A mortgage is available with a loan to value of .80, 25 year term, and an interest rate of 13% (fully amortized, level monthly payments).

What is the monthly payment on this mortgage?

1) $9,925

2) $10,005

3) $12,406

4) None of the above

2. Given the information in question 1, what is the balance due on the mortgage at the end of 15 years?

1) $215,283

2) $664,711

3) $323,850

4) None of the above

Reference no: EM131595486

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