Mathematics, 02.02.2021 17:40 william1690
Alex is going to look for a new building to open a tire shop. He finds the following bank that will offer him three different loans for $350,000.00.
Loan 1: Balloon Mortgage with a 25/7 at 6.75%
Loan 2: FRM at 7.25% for 30 years
Loan 3: 7/1 ARM at 4.99% with a 4/8 Cap for 20 years
What is the total paid back on each loan?
Loan 1:
Loan 2:
Loan 3:
Answers: 2
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Alex is going to look for a new building to open a tire shop. He finds the following bank that will...
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