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3. A partiNly amortized loan has been negotiated for $150,000 with terms 6%, 30 years (monthly compounding). Part a and b are separate questions. a.

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3. A partiNly amortized loan has been negotiated for $150,000 with terms 6%, 30 years (monthly compounding). Part a and b are separate questions. a. Set the LB at $120,000 calculate the MP with a holding period of 12 years. b. The MP has been set at $700. Calculate the LB after 12 years have lapsed (Balloon payment)

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