Purchase price: $4,000,000 Loan amount: $2,800,000 Interest Rate: 7.00% Term: 20 years Amortization: 30 years

Use the below information to answer the following 3 questions. Report all answers with 2 decimal places. Purchase price: $4,000,000 Loan amount: $2,800,000 Interest Rate: 7.00% Term: 20 years Amortization: 30 years Question 13 2.5 pts How much total interest will be paid during the term of this loan? (format: round to nearest $ ) Question 14 2.5 pts How much total principal will be paid during the term of this loan? (format: round to nearest \$) Question 15 2.5 pts What is the balloon payment at the end of the term? (format: round to nearest \$) Use the below information to answer the following 3 questions. Report all answers with 2 decimal places. Purchase price: $4,000,000 Loan amount: $2,800,000 Interest Rate: 7.00% Term: 20 years Amortization: 30 years Question 13 2.5 pts How much total interest will be paid during the term of this loan? (format: round to nearest $ ) Question 14 2.5 pts How much total principal will be paid during the term of this loan? (format: round to nearest \$) Question 15 2.5 pts What is the balloon payment at the end of the term? (format: round to nearest \$)