Real Estate Math
An Oklahoma investor pays $550,000 for a commercial property producing $44,000 NOI. They finance it with a $400,000 mortgage at a 7.5% annual constant (debt service). What is the annual mortgage debt service?
A$30,000✓ Correct
B$44,000
C$22,000
D$34,500
Explanation
Annual Debt Service = Loan Amount × Annual Constant. $400,000 × 0.075 = $30,000. The annual debt service is $30,000.
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