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What is the annual mortgage payment of the following loan? Principal $3,750,000 Interest Rate 4.75% Amortization 20 Years Balloon Payment $2,500,000 Loan Term 10 Years

What is the annual mortgage payment of the following loan? Principal $3,750,000 Interest Rate 4.75% Amortization 20 Years Balloon Payment $2,500,000 Loan Term 10 Years Group of answer choices

$290,801

$471,815

$365,918

$178,807

None of these

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