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1. Assume a mortgage loan with a principal balance of $100,000 and an interest rate of 6%. The loan is to be repaid over 20
- 1. Assume a mortgage loan with a principal balance of $100,000 and an interest rate of 6%. The loan is to be repaid over 20 years, and the monthly payment is to be $599.55. What type of amortization plan is this?
- 2. Assume a mortgage loan with an outstanding principal balance of $100,000 and an interest rate of 6%. The loan is to be repaid over 10 years. The monthly mortgage payment is $500 plus accrued interest. What type of amortization plan is this?
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Real Estate Finance and Investments
Authors: William Brueggeman, Jeffrey Fisher
14th edition
73377333, 73377339, 978-0073377339
