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You have identified an investment opportunity in a small office building that is on the market for $4.75M. A lender offers to provide financing in

You have identified an investment opportunity in a small office building that is on the market for $4.75M. A lender offers to provide financing in the form of a $2,850,000 mortgage with a 7% interest rate, 20-year amortization, and 10-year term. Assuming payments are made on an annual basis, what is the  corresponding payment?

What is the balance due at maturity?

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