Business, 06.04.2021 03:30 meowmeowcow

You decide to buy a 60 unit apartment complex in Austin for $15,000,000. You have $6,000,000 to use as a down payment and have applied for a $9,000,000 mortgage loan from Bank of the Ozarks. The loan will have a 25 year term, be fully amortizing, and have fixed interest rate of 6.24% per annum. What is your monthly payment on the loan? a. $54,731.69
b. $59,314.62
c. $65,731.09
d. $98,857.71

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You decide to buy a 60 unit apartment complex in Austin for $15,000,000. You have $6,000,000 to use...

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