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An investor obtains a balloon mortgage with the terms shown below. Balloon Mortgage. $530,000. 30/7 balloon. 6.8% annual rate. What is the monthly payment on this mortgage? (1 point) ... He makes a 30% down payment and obtains a 20-year fixed rate mortgage loan at 5% annual interest. His monthly payments are $1,621.51. He pays an intangible tax ... ................
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