ou are negotiating for a $6,900,000 loan on a building to be purchased for $8,500,000. The lender agrees to a 7%, 30 year self-amortizing loan with monthly payments. Assuming no fees or reserves, what would the monthly payment be? Ch3

a. $ 36,592

b. $ 39,918

c. $ 45,906

d. $ 56,551