What is the value of the loan at that point in time

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Reference no: EM131854633

1. You’ve decided to purchase a small office building for your business. When you spoke with the bank, they indicated they could provide a $2,000,000 loan with monthly payments maturing in 30 years at 6%. What will your monthly payment be?

2. A lender made a $10,000,000 loan with monthly payments, a 5% interest rate, a 30-year maturity, and a prepayment restriction. 5 years after origination, comparable interest rates have dropped to 4%. What is the value of the loan at that point in time?

Reference no: EM131854633

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