Suppose a construction project anticipates by Prof. David Geltner

Question 7 / 22: Suppose a construction project anticipates end-of-month draws of $400,000, $300,000, and $600,000 consecutively.

What will be the balance owed at the end of the third month if the interest on the loan is 7% per annum (nominal annual rate, compounded monthly), and no payments of either principal or interest are required during the construction period?

A $1,306,430.

B $1,314,051.

C $1,378,960.

D Cannot be computed with the information given.

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Real Estate Finance & Investment Final Exam 2006

Author:

Prof.David GeltnerProfessor

MIT Massachusetts Institute of Technology

USA

Access: Public Peer Review

Attribution: Geltner, David, and Tod McGrath. 11.431J Real Estate Finance and Investment, Fall 2006. (MIT OpenCourseWare: Massachusetts Institute of Technology), http://ocw.mit.edu/courses/urban-studies-and-planning/11-431j-real-estate-finance-and-investment-fall-2006 (Accessed 1 May, 2014). License: Creative Commons BY-NC-SA

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