I borrowed 33 1/3 percent of the appraised value to purchase a comercial property. The lender charged me interest at the rate of 11% per annum. My interest for the first ayear amounted to 5,315.51. What was the appraised value of the property and how did you get it?© BrainMass Inc. brainmass.com June 3, 2020, 6:52 pm ad1c9bdddf
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I BORROWED 33 1/3 PERCENT OF THE APPRAISED VALUE TO PURCHASE A COMERCIAL PROPERTY. ...
Compound interest and appraised value of property are investigated and discussed in the solution.