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3. A partially amortized loan has been negotiated for $120,000 with terms 6.36%, 20 years (monthly compounding). Part a and b are separate questions. a.

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3. A partially amortized loan has been negotiated for $120,000 with terms 6.36%, 20 years (monthly compounding). Part "a" and "b" are separate questions. a. Set the LB at $100,000 calculate the MP: b. The MP has been set at $700. Calculate the LB after 11 years have lapsed (Balloon payment)

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