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A fixed-rate constant-payment partially-amortizing mortgage is made for $100,000 at 5% for 30 years. The balloon payment will be $50,000 at the end of year
- A fixed-rate constant-payment partially-amortizing mortgage is made for $100,000 at 5% for 30 years. The balloon payment will be $50,000 at the end of year 30.
- Calculate the monthly payment.
- What will the total of payments be for entire 30 years? Of the total, how much will be interest?
- What would be the outstanding balance after 5 years?
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The Oxford Handbook Of Pricing Management
Authors: Ozalp Ozer, Robert Phillips
1st Edition
0199543178, 978-0199543175
