Assume You Have Taken Out a Partially Amortizing Loan for $325,000

question 2

Multiple Choice

Assume you have taken out a partially amortizing loan for $325,000 that has a term of 7 years, but amortizes over 30 years. Calculate the balloon payment at maturity (Year 7) if the interest rate on this loan is 4.5%.

• A) $1,646.73
• B) $118,468.21
• C) $282,835.42
• D) $324,572.02

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