Fixed-rate loan amortizes

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Reference no: EM132061204

A monthly amortizing, $ 800,000 fixed-rate loan amortizes fully in 30 years and has a contract rate of 6%.

What is the monthly payment?

If paid in advance after 5 years, what is the loan balance?

What is the EBC if no advance payment penalities are applied?

What is the EBC if 5% pre-pay penality are applied?

Reference no: EM132061204

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