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8. What is the monthly payment assuming a fixed rate mortgage (FRM) loan is made in an amount of $150,000 at a 7 percent interest

8. What is the monthly payment assuming a fixed rate mortgage (FRM) loan is made in an amount of $150,000 at a 7 percent interest rate for 30 years with a $75,000 balloon payment at maturity?

A. $997

B. $499

C. none of the choices are correct

D. $936

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