Given the Following Information, Calculate the Balloon Payment for a Partially

question 11

Multiple Choice

Given the following information, calculate the balloon payment for a partially amortized mortgage. Loan amount: $84,000, Term to maturity: 7 years, Amortization Term: 30 years, Interest rate: 4.5%, Monthly Payment: $425.62.

• A) $9,458
• B) $30,620
• C) $73,102
• D) $84,000

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