Question: please show work so i can learn the steps, thank you. Your property owner is considering purchasing a property for $2,800,000 and has been able

please show work so i can learn the steps, thank you.

Your property owner is considering purchasing a property for $2,800,000 and has been able to obtain an 80 percent loan. This loan; however, is a balloon mortgage. The actual fixed debt payments are based on a 25-year monthly amortization at 6.75 percent interest, but the balloon loan is actually due in 10 years.

Your property owner asked you to calculate the following d. How much interest is paid in year 5?

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