Use the following data for both questions. ACME Realty just closed on the acquisition of Wil- son Shopping Plaza for $16 million. The loan to value ratio is 70%, the interest rate is 6%, the loan is due in 7 years with a 27-year amortization. What is the annual loan payment? A) $69,886. B) $838,636. C) $99,837. D) $1,198.051.

What is the balance of the loan if it is paid off at the end of the 60th month? A) $11,200,000. B) $9,754,792. C) $14,615,926. D) $10,231,148.