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ANSWER ASAP PLEASE (will upvote) In 2014, KeyBank financed a 55-unit apartment building in Dayton, Ohio with a $10,000,000 30-year fully amortizing fixed rate mortgage
ANSWER ASAP PLEASE (will upvote)
In 2014, KeyBank financed a 55-unit apartment building in Dayton, Ohio with a $10,000,000 30-year fully amortizing fixed rate mortgage loan at an annual interest rate of 4.5% payable monthly and with no loan lockout or prepayment penalties. If the borrower wanted to pay the loan back after 8 years, what would be the payoff amount? $7,333,3338,481,705$8,008,942$8,913,848 A \$27.0 million 30-year fully amortizing fixed rate mortgage loan from Citibank that was made in 2015 at a 3.75% annual interest rate with equal monthly payments and a 1% prepayment penalty has been seasoned for seven years. What will be the balloon payment due on the contract maturity date? $27,000,000 $0 $23,100,671 $23,331,678Step by Step Solution
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