Explore BrainMass

Explore BrainMass

    Compound Interest and Appraised Value of Property

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    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
    https://brainmass.com/business/interest-rates/compound-interest-appraised-value-property-77373

    Solution Preview

    Please see the attached file for the complete solution.

    I BORROWED 33 1/3 PERCENT OF THE APPRAISED VALUE TO PURCHASE A COMERCIAL PROPERTY. ...

    Solution Summary

    Compound interest and appraised value of property are investigated and discussed in the solution.

    $2.19

    ADVERTISEMENT