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A partially amortizing mortgage is made for $100,000 for a term of 10 years. The borrower and ender agree there will be a balance of $45,000 will remain and the end of the term and will be paid as a lump sum at that time. If the interest rate is 7.00% (annually), what must the payments be over the 10-year period?

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Financial Management, Finance

Category:- Financial Management
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