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Use the below information to answer the following 3 questions. Report all answers with 2 decimal places. Loan amount: $4,800,000 Interest Rate: 3.75% Term: 20
Use the below information to answer the following 3 questions. Report all answers with 2 decimal places. Loan amount: $4,800,000 Interest Rate: 3.75% Term: 20 years Amortization: 30 years Question 9 3.33 How much total interest will be paid during the term of this loan? $2,927,396.60 $2,924,047.07 $254,904.20 $2,756,685.88 None of these are correct What is the balloon payment at the end of the term? $2,924,047.07 $2,221,594.26 None of these are correct $355,723.44 $4,443,940.75 Question 11 How much total principal will be paid during the term of this loan? None of these are correct $3,749,365.24 $4,800,000.00 $2,844,122.08 $2,578,405.74
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