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Find what is the loan balance

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Reference no: EM132743313

A monthly amortizing, $ 100,000 fixed-rate loan amortizes fully in 30 years and has a contract rate of 6%. Total initial friction costs equal $ 6,000

Problem 1: What is the monthly payment?

Problem 2: The loan is pre-paid after 4 years. What is the loan balance?

Problem 3: What is the EBC, if no pre-payment penalties are applied?

Reference no: EM132743313

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