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1 3 - Deepak's company buys a property valued at $ 1 0 , 0 0 0 and finances the purchase with an 7 7
Deepak's company buys a property valued at $ and finances the purchase with an LTV loan. The bank offers a year amortization schedule with interest and monthly payments and requires a balloon repayment after years. If Deepak's company holds on to the mortgage at maturity, what will be their balloon payment only loan balance still owed at the end of the mortgage term after making years of monthly payments State your answer as a number rounded to the nearest cent eg if you get $ write
Tom bought a house for $ and financed it with a mortgage. years later, his house has appreciated and is now worth $ He still has a remaining balance on his loan of $ He is considering a cashout refinancing and getting a new mortgage at LTV How much cash will Tom be able to take out with this refi? Assume there are no costs to refinancing. State your answer as a number with two decomal points eg if you get $ write
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