What is the payment for the monthly debt service, Accounting Basics

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What is the payment for the monthly debt service

Question: Danny Developer seeks secondary financing, a $750,000 mortgage, term 25 years, interest rate is 13.5% and payments include principal and interest with level monthly payments.

1. What is the payment for the monthly debt service?

2. What is the mortgage balance at the end of 10 years?

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Accounting Basics: What is the payment for the monthly debt service

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