Real Estate Math
An Oregon investor purchases a rental property for $650,000 with a down payment of 25%. The monthly mortgage payment on the financed amount at 6.5% for 30 years is $3,079. The annual NOI is $52,000. What is the annual debt service?
A$52,000✓ Correct
B$43,200
C$36,000
D$37,680
Explanation
The loan amount = $650,000 × 0.75 = $487,500.
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