question archive 2)A landlord wants to acquire an additional apartment building for $250,000
2)A landlord wants to acquire an additional apartment building for $250,000
Subject:EconomicsPrice: Bought3
2)A landlord wants to acquire an additional apartment building for
$250,000. The new building contains eight apartment units, which will each rent for $500 per month. The bank is willing to loan the landlord the money for a long-term, 30-year loan at a 5.5 percent interest rate. Calculate the monthly payment and explain whether taking this loan for the new building is a smart business decision. (10 points)
