How much will have to be paid by the borrower

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Question: A borrower and a lender agree on a $200,000 loan at 5 percent interest. An amortization schedule of 25 years has been agreed on; however, the lender has the option to "call" the loan after five years.

Required: If called, how much will have to be paid by the borrower at the end of ?ve years? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Reference no: EM133378490

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