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Please round answer to threee decimal places. table for when MAAR= 6% annually: ...

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Accounting

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Please round answer to threee decimal places.

table for when MAAR= 6% annually:

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A group of private investors borrowed $28 million to build 280 new luxury apartments near a large university. The money was borrowed at 6% annual interest and the loan is to be repaid in equal annual amounts (principal and interest) over a 50-year period. Annual operating, maintenance, and insurance expenses are estimated to be $5,000 per apartment, and these expenses are incurred independently of the occupancy rate for the apartments. The rental fee for each apartment will be $12,000 per year, and the worst-case occupancy rate is projected to be 80% a. How much profit (or loss) will the investors make each year with 80% occupancy? b. Repeat Part (a) when the occupancy rate is 95%

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