Diversified Investments purchased a 24-unit apartment building for $650,000. After a 20% down payment, the balance was financed with a 20-year, 7.75% fixed-rate mortgage. a. What is the amount of the monthly principal and interest portion of the loan? b. As Diversified's loan officer, construct an amortization schedule for the first two months of the mortgage. 11eb7a74_7f02_8aea_b1cd_7376415aa8ec_SM2245_00 c. If the annual property taxes are $9,177 and the hazard insurance premium is $2,253 per year, what is the total monthly PITI of the loan? d. If each apartment rents for $825 per month, how much income will Diversified make per month after the PITI is paid on the building?

Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman

النسخة 7الرقم المعياري الدولي: 978-1285448596

Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman

النسخة 7الرقم المعياري الدولي: 978-1285448596

تمرين 32

Diversified Investments purchased a 24-unit apartment building for $650,000. After a 20% down payment, the balance was financed with a 20-year, 7.75% fixed-rate mortgage.
a. What is the amount of the monthly principal and interest portion of the loan?
b. As Diversified's loan officer, construct an amortization schedule for the first two months of the mortgage.

c. If the annual property taxes are $9,177 and the hazard insurance premium is $2,253 per year, what is the total monthly PITI of the loan?
d. If each apartment rents for $825 per month, how much income will Diversified make per month after the PITI is paid on the building?

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موثّق

(a)
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