Mortgage Payoff. Somewhat over five years ago, on February 1 you took out a loan for $20,000,000
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Mortgage Payoff. Somewhat over five years ago, on February 1 you took out a loan for $20,000,000 at 5.25% with a 25-year amortization period and a 7-year term. You are selling the building and will repay the loan on April 11. Assuming there are no prepayment penalties, what will your loan payoff be on that day?
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