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August 31, 2014

Homework Help: Economics

Posted by Gary on Sunday, September 20, 2009 at 6:44pm.

Suppose that you have a $400,000 commercial mortgage with a 6.3% APR and a 25 year amortization period. Further, suppose that the mortgage has a 5 year balloon.

How much of the 48th monthly payment is interest and how much is principal? What is the amount of the balloon payment excluding the final monthly payment?

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