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Consider a $575,000 mortgage loan with an annual interest rate of 6%. The loan term is 7 years, but monthly payments will be based on

Consider a $575,000 mortgage loan with an annual interest rate of 6%. The loan term is 7 years, but monthly payments will be based on a 30-year amortization schedule.What is the monthly payment?What will be the required balloon payment at the end of the loan term?

For a loan of $400,000, at 8 percent annual interest for 30 years, find the balance at the end of 8 years and 18 years assuming monthly payments.

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