Question 4. of 15.) A construction loan charges 9% simple interest. A $100,000 amount is drawn by the borrower at Time 0. If that is the only amount drawn, and it is returned 90 days later, what is the amount of interest accrued during that borrowing period? Assume that the interest is calculated on a 360-day basis.

Real Estate Financial Modeling / Questions / Question 4. of 15.) A construction loan charges 9% simple interest. A $100,000 amount is drawn by the borrower at Time 0. If that is the only amount drawn, and it is returned 90 days later, what is the amount of interest accrued during that borrowing period? Assume that the interest is calculated on a 360-day basis.

Aug 23