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What will be the monthly payment on the loan

    Assignment Instructions

    Assignment ID: FG133136319

    Question – A borrower obtains a fully amortizing CPM loan for $132,000 at 9 percent interest for 10 years.

    Required –

    a. What will be the monthly payment on the loan?

    b. If this loan had a maturity of 30 years, what would be the monthly payment?

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