Business, 03.11.2020 17:20 sophiqdionacles1968

2. The owner and bank have agreed to convert the construction mortgage into a permanent mortgage when construction is done. The permanent mortgage will be for the $13.2 million. The term of the mortgage is 10 years and the annual interest rate is 6.75%, with principal and interest to be paid off monthly over the 10 year period. a. What is the monthly payment

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