Question: 24. You need a $500,000 financing package. $100, 00…
- You need a $500,000 financing package. $100,000 at 5%, 30 Years , $200,000 at 6.5%, 20 Years, $200,000 at 8% 10 Years, (notice 1. that these loans are not amortized loan which mean you have to pay them in the end of loan life 2. the payments are monthly 3. the interest is on compound basis)
What is your effective cost of this multiple loans?
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