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  3. loan amount: $10,000,000.00 interest rate: 6-3/4%

Loan Amount: $10,000,000.00 Interest Rate: 6-3/4% Amortization: 30 years Term: 10 years ...

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Question

Accounting

Loan Amount: $10,000,000.00

Interest Rate: 6-3/4%

Amortization: 30 years

Term: 10 years

  1. Assume the above loan is interest only for the first three (3) years.
    1. What is the Annual Debt Service (ADS) in the first year?
    2. How much interest (cumulative) will have been paid at the end of year 3?
    3. How much principal will be due at maturity?
    4. How much interest will have been paid over the 10 year term?

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