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A borrower obtains a fully amortizing CPM loan for $ 1 3 7 , 0 0 0 at 6 percent interest for 1 0 years.

A borrower obtains a fully amortizing CPM loan for $

137, 000

6

percent interest for

10

years.

Required:

What will be the monthly payment on the loan?

If this loan had a maturity of

30

years, what would be the monthly payment?

Note: For all requirements, do not round intermediate calculations. Round your final answers to the nearest whole dollar.

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