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1. Assume a $540,000 mortgage loan at a rate of 7.5%. What would the loan balance be in 9 years? 2. If the above loan

1. Assume a $540,000 mortgage loan at a rate of 7.5%. What would the loan balance be in 9 years? 2. If the above loan had a $40,000 balloon payment at the end of the 30-year term, what would the loan balance be in 9 years

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