Question
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
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 but amortizes over 25 years. calculate the balloon payment at maturity (5year) if the interest rate on this loan is 4.5%?
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Financial Markets And Institutions
Authors: Jeff Madura
9th Edition
1439038848, 978-1439038840
