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John bought a house for $1m and rent it for $3,000 net a month or $36,000 a year. He arranges for a 5-year balloon loan

John bought a house for $1m and rent it for $3,000 net a month or $36,000 a year. He arranges for a 5-year balloon loan (T = 5) with a 30-year repayment period (i.e. n = 30). At the end of 5 years, he...

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