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A monthly amortizing, $ 100,000 fixed-rate loan amortizes fully in 30 years and has a contract rate of 6%. Total

initial friction costs equal $ 6,000. The loan is pre-paid after 4 years. What is the loan balance? What is the EBC, if no pre-payment penalties are applied?    

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Loan balance will be nll. EBC... View the full answer

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