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Assume you borrow from the bank $5,000,000. Assume you make quarterly payments. Further assume that the stated coupon rate is 9% per annum and the

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Assume you borrow from the bank $5,000,000. Assume you make quarterly payments. Further assume that the stated coupon rate is 9% per annum and the loan matures in 12 years. You also make a balloon payment of $1,000,000 in the last quarter. What is the quarterly payment? You are 25 years old today. You plan to retire when you are 65 and you would like to receive from your 401K a monthly retirement of $12,500 until and including your 90th birthday. Your first withdrawal is one month after you are 65. Assume you can earn 6% per year and you have already set aside as of today $18,000 for retirement. How much must you set aside each month starting one month from now to self finance your retirement

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