Kristi got a 7/23 balloon mortgage and her initial payments were $895. She decided to refinance her balloon payment with a 30-ye
2 answers:
Answer:
Total financed cost is: $389,460
Step-by-step explanation:
The 7/23 name means that the loan has a fixed rate for the first seven years.
Now Kristi's initial payments for 7 years will be =
dollars
Then she decided to refinance her balloon payment with a 30-year mortgage and her new payments were $873.
So, payments for 30 years will be =
dollars
Now, the total financed cost she paid for her house will be =
dollars
This option is not given, but this is the correct answer.
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<h3>Answer: B) 2.9 approximately</h3>
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Explanation:
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