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Q2. You have obtained a bullet (interest only) loan for 8,000,000 at 4.875% that is due in 4 years. What is your monthly payment?

Q2. You have obtained a bullet (interest only) loan for 8,000,000 at 4.875% that is due in 4 years. What is your monthly payment? What will your balloon payment amount be at month 48 (after you have made your regular payment)?

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