An investor has been offered 10.5 million mortgage with the following terms: Initial interest rate...
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Accounting
An investor has been offered 10.5 million mortgage with the following terms: Initial interest rate - 3% Term - 30 years Repayment plan - PLAM with a margin set at +1% pegged on CPI CPI for the first three years was 8%, 10% and 7%. Determine the loan balance at the of year two, and the monthly repayment for year three.
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