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What will the monthly payment be on loan

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You have been offered a 30-year mortgage with a loan amount of $475,000. The rate will be 5.75%, with payment of 2 points at closing. There is also a balloon payment of $150,000 due at loan maturity.

a. What will the monthly payment be on this loan?

b. What will the annual yield be on this loan, from the lender's perspective?

Reference no: EM132795842

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