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05-10-2022
Business

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. bob got a 30 year fully amortizing frm for $2,500,000 at 4%, except with non-constant payments. for the first 2 years bob will pay $1,250 per month. the loan will become a fully amortizing mortgage after 2 years. what will be the balance on this mortgage after 2 years? (hint: see the option arm slide in the arm lecture)

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