Multiple Choice
Given the following information, calculate the balloon payment for a partially amortized mortgage. Loan amount: $84,000, Term to maturity: 7 years, Amortization Term: 30 years, Interest rate: 4.5%, Monthly Payment: $425.62.
A) $9,458
B) $30,620
C) $73,102
D) $84,000
Correct Answer:
Verified
Correct Answer:
Verified
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