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 b. Since this is a balloon loan, what would the monthly payment be?

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