A home worth $ 1,000,000.00 will have a 70% loan at an annual mortgage rate of 8%, with the remaining 30% equity. What must the net operating income (NOl) be in order to generate a 12 per cent cash on cash return? Select the correct response: $700,000.00 $120.000.00 $92.000.00 $84.000.00 $56.000.00
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A home worth $ 1,000,000.00 will have a 70% loan at an annual mortgage rate of 8%, with the remaining
30% equity. What must the net operating income (NOl) be in order to generate a 12 per cent cash on
cash return?
Select the correct response:
$700,000.00
$120.000.00
$92.000.00
$84.000.00
$56.000.00
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