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Assume a coupon of 6%. You borrow $10 million from the bank and you make quarterly payments over 8 years. There is a balloon payment

Assume a coupon of 6%. You borrow $10 million from the bank and you make quarterly payments over 8 years. There is a balloon payment of $1,000,000 at the end of year 8. Determine annual interest and principal payment for year 5. (8 points

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