Question 35 (1.3 points) Listen You are the project monitor for a house project in Toronto. You have been provided with the following progress data for the project. What would be the certified loan advance for Draw 2? Project Financing Project Name Estimated Property Value Total Construction Cost Loan-to-value (LTV) Ratio Progress Draw Schedule Draw 1 Draw 2 Draw 3 Draw 4 Draw ABC House $1,000,000 $700,000 70.0% % Completion to Date 30% 50% 80% 100% $108,000 $161,000 $126,000 $144,000
Question 35 (1.3 points) Listen You are the project monitor for a house project in Toronto. You have been provided with the following progress data for the project. What would be the certified loan advance for Draw 2? Project Financing Project Name Estimated Property Value Total Construction Cost Loan-to-value (LTV) Ratio Progress Draw Schedule Draw 1 Draw 2 Draw 3 Draw 4 Draw ABC House $1,000,000 $700,000 70.0% % Completion to Date 30% 50% 80% 100% $108,000 $161,000 $126,000 $144,000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Question 35 (1.3 points)
Listen
You are the project monitor for a house project in Toronto. You have been provided
with the following progress data for the project. What would be the certified loan
advance for Draw 2?
Project Financing
Project Name
Estimated Property Value
Total Construction Cost
Loan-to-value (LTV) Ratio
Progress Draw Schedule
Draw 1
Draw 2
Draw 3
Draw 4
Draw
ABC House
$1,000,000
$700,000
70.0%
% Completion to
Date
30%
50%
80%
100%
$108,000
$161,000
$126,000
$144,000
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