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1. Ann wants to buy an office building which costs $2,000,000. She obtains a 30 year fully amortizing fixed rate mortgage with 80% LTV, an annual interest rate of 4%, with monthly compounding and monthly payments. How much is Ann’s monthly payment?

2. Ann wants to buy an office building which costs $2,000,000. She obtains a 30 year fully amortizing fixed rate mortgage with 80% LTV, an annual interest rate of 4%, with monthly compounding and monthly payments. Ann has a balloon payment due 5 years after she gets the loan. If Ann pays the required monthly payment for 5 years, how much is her balloon payment?

3. Ann wants to buy an office building which costs $2,000,000. She obtains a 30 year Interest Only fixed rate mortgage with 80% LTV, an annual interest rate of 4%, with monthly compounding and monthly payments. How much is Ann’s monthly payment?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92769820

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