a property is expected to have Net Operating Income of $100,…

a property is expected to have Net Operating Income of $100,000 in the first year. The NOI is expected to increase by 5% each year thereafter. The appraised value of the property is currently $1.25 Million and the lender is willing to make a $1,125,000 participation loan with a contract interest rate of 5.5%. The loan will be amortized with monthly payments over a 20 year life. In addition to the regular mortgage payments, the lender will receive 50% of the NOI In EXCESS of $100,000each year until the loan is repaid. The lender will also receive 50% of any increase in the value of the property.  Assume that the appraiser will estimate the value of the property in Year 3 by dividing the NOI of year 4 by an 8 percent Cap Rate. Calculate the cost to the borrower (which is also the cost to the lender) if the property is held for 3 years.  (please specify the Year 3 loan payoff, resale price of the building, participation portion of the resale, and be sure to enter the cash flows used to justify your solution).

Consider the set of letters   to write words (with English m…

Consider the set of letters   to write words (with English meanning or not) on the alphabet .  How many 5-letter words on the alphabet  are there starting with a vowel? Justify your answer How many 6-letter words on the alphabet are there with exactly one letter and exactly one letter such that  appears before ? Justify your answer How many palindrome 7-letter words on the alphabet  are there? Justify your answer How many 8-letters words on the alphabet A are there with letters in alphabetic order? Justify your answer   Note: A word is said to be palindrome if reversing its letters it is still the same word, e.g., and . Besides, the word has its letters in alphabetic order.   Write your answers as numerical expressions involving additions, subtractions, multiplications as well as permutation and combinations. Do not compute the final numerical answer such that your instructor can identify your reasoning, otherwise, explain in work your answer.