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USE EXCEL FUNCTION Suppose you borrowed $300,000 from the bank on a balloon loan,...

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Finance

imageUSE EXCEL FUNCTION

Suppose you borrowed $300,000 from the bank on a balloon loan, requiring 10 years of equal payments plus a balloon payment of $150,000 at maturity. If the interest rate on the loan is 4.5%, what is your payment? What would the payment be if you received a 10 year loan with NO balloon payment

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