
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Question 35 (1.3 points)
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You are the project monitor for a house project in Toronto. You have been provided
with the following progress data for the project. What would be the certified loan
advance for Draw 2?
Project Financing
Project Name
Estimated Property Value
Total Construction Cost
Loan-to-value (LTV) Ratio
Progress Draw Schedule
Draw 1
Draw 2
Draw 3
Draw 4
Draw
ABC House
$1,000,000
$700,000
70.0%
% Completion to
Date
30%
50%
80%
100%
$108,000
$161,000
$126,000
$144,000
SAVE
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