An investor would like to purchase a property worth 10 million shillings. He is faced...
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An investor would like to purchase a property worth 10 million shillings. He is faced with two financing alternatives. The first is 80% 20 year fixed rate mortgage at 8% payable monthly. The second option is 70% ,20 year fixed rate mortgage at 7% interest payable monthly. The lender will charge and loan origination fees of 5% for both alternatives Required: Which of these two alternatives would you recommend explain
NB;DO NOT USE EXCEL OR FINANCIAL CALCULATOR
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