Question: A developer borrows $100 million in a 30-year fixed rate fully amortizing mortgage with 6% interest rate. a. What is the monthly payment on this

A developer borrows $100 million in a 30-year fixed rate fully amortizing mortgage with 6% interest rate.

a. What is the monthly payment on this mortgage?

b. What is the outstanding loan balance in this mortgage after 10 years of payment?

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