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Compute the monthly payment associated with loan

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A partially amortizing mortgage loan is made in the amount of $92,758 at 7.5% for 20 years with payments to be made monthly. The loan is structured such that the borrower will make a balloon payment at the end of 20 years in the amount of $5,000. Assume a fixed rate and constant payments. Compute the monthly payment associated with this loan

Reference no: EM132681931

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