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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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If I sell my Dental Practice and Dental Office to a family

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If I sell my Dental Practice and Dental Office to a family member for $750,000 for a 15 year note at 3% interest, what would be the monthly payments , and if at the end of the 10 year period, he would want to pay off the obligation what would be the amount of the payoff.

MyVirtualCPA :

Hello, and welcome to JustAnswer.com

MyVirtualCPA :

I'm sorry about the delayed response but I was away from my computer for a few minutes

MyVirtualCPA :

The monthly payments will be $5,179.36

MyVirtualCPA :

The payoff at the end of 10 years would be $283,784

MyVirtualCPA :

I used the calculator available here: http://www.amortization-calc.com/#loan-750000-15-3-8-2013-2

MyVirtualCPA :

Please let me know if you need anything else. If not, please rate my response as excellent so that I may receive credit for assisting you today

Customer:

Thank you

Megan C and 2 other Finance Specialists are ready to help you
Thanks, James for your positive rating. Please come back and visit MyVirtualCPA any time you have a tax, finance, or social security question. It was a pleasure working with you today.

Hope you have a great night. :)