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Ending principal balance at the end of the tenth year

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Reference no: EM132523762

A mortgage has an interest rate of 200 basis points over the treasury rate of 4%, an amortization period of 30 years and an initial principal balance of $2,000,000.

1) What is the annual debt service?

2) What is the ending principal balance at the end of the tenth year?

Reference no: EM132523762

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