A property worth $16 million can be refinanced with an 80% loan at 9.5% over 20 years.The balance on the current loan is $12,148,566.Loan payments are $113,302 per month.The loan balance in 10 years will be $8,396,769.If the property is expected to be sold in 10 years,what is the incremental cost of refinancing?

Question

Quizplus · Accepted Answer

The Answer of A property worth $16 million can be refinanced with an 80% loan at 9.5% over 20 years.The balance on the current loan is $12,148,566.Loan payments are $113,302 per month.The loan balance in 10 years will be $8,396,769.If the property is expected to be sold in 10 years,what is the incremental cost of refinancing?

A Property Worth $16 Million Can Be Refinanced with an 80