Julie and Brian are financing $245,000 to purchase a house. they obtained a 30/5 balloon mortgage at 5.25%. What will their ball

Question

Debora [2.8K]

3 years ago

12

Julie and Brian are financing $245,000 to purchase a house. they obtained a 30/5 balloon mortgage at 5.25%. What will their ball

oon payment be?

Mathematics

1 answer:

balandron [24] · Answer 1 · 2022-06-21T07:03:01+03:00

This question had the following choices:
<span>A) $223,884.91
B) $226,753.98
C) $229,679.66
D) $234,068.73</span>

I used the Online Balloon Payment Loan Calculator and got this amount $226,753.92. This is nearest to Choice B.

For manual computation, use this formula in the 2nd attachment.