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Sam is buying a small office building for $250,000, and is putting 35% in equity.Sam has arranged to finance the remaining cost with a 4
Sam is buying a small office building for $250,000, and is putting 35% in equity.Sam has arranged to finance the remaining cost with a 4 year mortgage with a 5.5% interest rate and a 25 year amortization schedule.What is the monthly constant payment mortgage Sam must make? And what will be balloon payment due at loan maturity?
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