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Assume you have taken out a balloon mortgage loan for $2,500.000 to finance the purchase of a commercial property. The loan has a term of

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Assume you have taken out a balloon mortgage loan for $2,500.000 to finance the purchase of a commercial property. The loan has a term of 5 years with monthly payments but amortizes over 25 years. Calculate the monthly payment at if the interest rate on this loan is 5%. $47,178 $13.421 $175,377 $14,615

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