David purchased a $ 155,000 home with a 7/23 balloon mortgage. His initial rate was 3.5%. At the end of the initial rate, I deci
ded to refinance the balloon payment with a 30-year mortgage fixed at 5%. What is his new mortgage payment? A. $ 696.02 B. $ 707.63 C. $ 707.23 D. $ 654.87
