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19 March, 04:01

Each parcel of land in a new development is selling for $15,000 and the total project revenue is estimated to be $5,000,000. The project lender has stated that the loan should be paid off when 80% of the total project revenue has been earned. The total loan amount is $3,500,000. What is the release price for each parcel?

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  1. 19 March, 07:45
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    The release price for each parcel is $13,215.

    Explanation:

    Release price for each parcel = [3500000 / (5000000*80%) ]*15000

    = $13,215

    Therefore, The release price for each parcel is $13,215.
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