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Investor buys property worth $1.5 million. Puts 20% down financing the rest for 10 year...

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Finance

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Investor buys property worth $1.5 million. Puts 20% down financing the rest for 10 year at an annual rate of 3.2% a year. What are the monthly payments? How much is owed on the loan after 70 months? How much of the first 70 payments went to paying down the principal? How much went to paying off the interest? What happens if an extra $500 is added each month to the payment? What are the answers if initially 10% is put down? Property appreciates by 0.15% a month. What is the value of the property after 70 months? How much equity is in the property after 70 months? What percent of the equity after 70 months comes from paying down of the principal? What percent from the down payment? What percent from the growth in the property? If the property is sold after the 70 months what is the monthly return to the investor? con in

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