Question: A borrower obtains a fully amortizing loan for $75,000 at 10 percent for 7 year. Payments are monthly. If the loan is CAM (constant amortizing

A borrower obtains a fully amortizing loan for $75,000 at 10 percent for 7 year. Payments are

monthly. If the loan is CAM (constant amortizing mortgage) loan, what would be the third

monthly payment?

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