You have just arranged for a $1,800,000 mortgage to finance the purchase of a large tract of land. the mortgage has an apr of 7.

Question

3 years ago

15

You have just arranged for a $1,800,000 mortgage to finance the purchase of a large tract of land. the mortgage has an apr of 7.

8 percent, and it calls for monthly payments over the next 30 years. however, the loan has an eight-year balloon payment, meaning that the loan must be paid off then. how big will the balloon payment be?

Mathematics

1 answer:

Marysya12 [62] · Answer 1 · 2022-07-16T15:55:19+03:00

Marysya12 [62]3 years ago

6 0

Hey what is Apr? So I can help you with this; )