Question: A borrower obtains a fully amortizing CPM loan for $142,000 at 7 percent interest for 10 years. Required: What will be the monthly payment on

A borrower obtains a fully amortizing CPM loan for $142,000 at 7 percent interest for 10 years. Required: What will be the monthly payment on the loan? If this loan had a maturity of 30 years, what would be the monthly payment? Note: For all requirements, do not round intermediate calculations. Round your final answers to the 2 decimal places.

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