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

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

asked
User Pookieman
by
8.1k points

1 Answer

4 votes
The answer would be =$249,256.48
answered
User Sawyer Merchant
by
8.7k points
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