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Joanne and Bill are financing a $305500 to purchase a house. They obtained a 20/6 balloon mortgage at 5.75% interest. What will their balloon payment be?

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asked Jul 14, 2019 127k views

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Joanne and Bill are financing a $305500 to purchase a house. They obtained a 20/6 balloon mortgage at 5.75% interest. What will their balloon payment be?

Mathematics
middle-school

Mathias Kemeter asked

by Mathias Kemeter

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1 Answer

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The answer is =$249,256.48

Brian Rice answered Jul 20, 2019

Joanne and Bill are financing a $305500 to purchase a house. They obtained a 20/6 balloon mortgage at 5.75% interest. What will their balloon payment be?

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