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A partially amortizing CAM (constant amortizing mortgage) loan is made for $125,000 at 6 percent interest for 15 years, with monthly compounding. There is a

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A partially amortizing CAM (constant amortizing mortgage) loan is made for $125,000 at 6 percent interest for 15 years, with monthly compounding. There is a $25,000 balloon after 15 years.

a) What is your monthly mortgage payment for this loan? (Pmt)

b) What is the remaining principal on the loan at the beginning of Month 83?

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PROBLEM A A partially amortizing CAM (constant amortizing mortgage) loan is made for $125,000 at 6 percent interest for 15 years, with monthly compounding. There is a $25,000 balloon after 15 years. m H Monthly 16 Month Opening Balance Payment Monthly Interest Amortization Ending Balance 97 81 86 82 99 83 100 84 101 85

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