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Calculate the loan balance after 6 years of payment of the following Balloon Payment Mortgage: 1 million dollar loan Rate =5% annualized, monthly compounding Loan

Calculate the loan balance after 6 years of payment of the following Balloon Payment Mortgage: 1 million dollar loan Rate =5% annualized, monthly compounding Loan term = 25 years Amortization = balloon at the end of loan term of $300,000

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