What is the balance after the first annual payment

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Reference no: EM131969348

A. What is the balance after the first annual payment on a $260,000 loan for 20 years with a 6% interest rate and a payment of $22,667.98?

B. You borrow $100,000 for 10 years. The loan has an APR of 7% with monthly payments. You will make a $20,000 balloon payment at the end of the 10-year term. What is the monthly payment?

C. Consider a loan for $300,000 with 20 annual payments and an interest rate of 5%. What is the payment amount with a balloon payment of $60,000?

D. What is the annual payment on a 20-year fully amortized loan of $500,000 with an interest rate of 5%?

Reference no: EM131969348

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