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HW #2 Problem #2 2) Consider a $200,000.00 mortgage with an annual interest of 7%. The loan term is 8 years, but the monthly payment

HW #2 Problem #2 image text in transcribed
2) Consider a $200,000.00 mortgage with an annual interest of 7%. The loan term is 8 years, but the monthly payment is based on a 25-year amortization period. Find the monthly payment and the balloon payment at the end of the loan term

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