Question: A borrower obtains a fully amortizing loan for $75,000 at 10 percent for 8 year. Payments are monthly. If the loan is CAM (constant amortizing

A borrower obtains a fully amortizing loan for $75,000 at 10

A borrower obtains a fully amortizing loan for $75,000 at 10 percent for 8 year. Payments are monthly. If the loan is CAM (constant amortizing mortgage) loan, what would be the third monthly payment? (Answer is rounded) Yantnz: O 1617 1516 O 1393 O 1603 1486

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