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Can someone show work and provide answers to those questions 1. What is the monthly payment for a $1,850,000 loan with a 5 -year maturity
Can someone show work and provide answers to those questions
1. What is the monthly payment for a $1,850,000 loan with a 5 -year maturity offering a 25-year amortization period and a 5.0% mortgage rate? PV= 2. You borrow $175,000 for your new home using a loan that charges a prepayment penalty equal to 5% of the remaining loan balance at the time that the loan is retired. The contract rate on the loan is 7.0% and payments are amortized over a 30-year period. What is the amount of the penalty that you have to pay if you pay off the loan at the end of 3 years Step by Step Solution
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