Solution-Payments and balances for the first six months

Payments and balances for the first six months

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Reference no: EM133111945

A fully amortizing CAM loan is made for $135,000 at 6 percent interest for 20 years.

Required:

a. What will be the payments and balances for the first six months?

b. What would payments be for a CPM loan?

c. If both loans were repaid at the end of year 5, would the lender earn a higher rate of interest on either loan?

Reference no: EM133111945

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Payments and balances for the first six months

Reference no: EM133111945

Reference no: EM133111945

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