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QUESTION 3 -Ann wants to buy an office building which costs $1,000,000, she obtains a 30 year fully amortizing fixed rate mortgage with 80% LTV,

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QUESTION 3 -Ann wants to buy an office building which costs $1,000,000, she obtains a 30 year fully amortizing fixed rate mortgage with 80% LTV, an annual interest rate of 4, with monthly compounding and monthly payments. Ann has a balloon payment due 5 years after she gets the loan. If Ann pays the required monthly payment for 5 years, how much is her balloon payment

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