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

question 16

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)$73,103
• D)$84,000

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