How much interest will you pay in year 11 of the loan

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Question: You are the owner of an investment property, which you initially purchased for $18,750,000. At the time of purchase, you financed 55% at a 7.75% interest rate, with 25-year amortization (monthly compounding).

a. How much principal will you pay in year 11 of the loan? (Round your answer to the nearest dollar.)

b. How much interest will you pay in year 11 of the loan? (Round your answer to the nearest dollar.

You are the owner of an investment property, which you initially purchased for $30,000,000. At the time of purchase, you financed 80% at a 4.675% interest rate, with 20-year amortization (monthly compounding).

a. How much principal will you pay in year 2 of the loan? (Round your answer to the nearest dollar.)

b. How much interest will you pay in year 2 of the loan? (Round your answer to the nearest dollar.)

Reference no: EM133264973

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