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Ann obtains a 30 year Interest Only Fixed Rate Mortgage with monthly payments for $4,500,000...

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Ann obtains a 30 year Interest Only Fixed Rate Mortgage with monthly payments for $4,500,000 at 4.38%. What will Ann's monthly payments be? Write the answer as a number rounded to two decimals (e.g. if you get $50,66666, write 50.67 ). QUESTION 16 Ann obtains a 30 year Fixed Rate, Constant Payment Mortgage with monthly payments for $4,500,000 at 4.38%. Her monthly payment is $20,000. What is the balloon payment for this mortgage after 360 payments are made? (e.g. if you get $50,66666, write 50.67 ). QUESTION 17 I understand that Midterm 1 will be on Wednesday 3/15 during class time. It will be in class, open notes and I will need to bring a computer to answer the exam through Blackboard. I will need a financial calculator or Excel to answer the exam. True False

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