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please provide the steps Consider a $200,000 mortgage loan with an annual interest rate of 7 percent. The loan term is 8 years, but the
please provide the steps 
Consider a $200,000 mortgage loan with an annual interest rate of 7 percent. 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 8-year loan term. (Do not round intermediate calculations and round your final answers to 2 decimal places.) Step by Step Solution
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Understanding Housing Finance
Authors: Peter King
2nd Edition
0415432952, 978-0415432955
