Question

I need help!

Answer 1

the notation as well as the definition of the terms, needs to be understood.

Answer 2

what does 20/7 refer to?

Answer 3

and, how is a balloon mortgage calculated?

Answer 4

hmm, the wording is rather specific. Is this for a math class, or an accounting class?

Answer 5

Accounting

Answer 6

the google says a balloon mortgage is an interest only loan; but i havent found a site that explains the 20/7 notation. I know it has something to do with duration, and maybe a discount

Answer 7

can you share it with the rest of the class?

Answer 8

20/7 might be a ratio of interest to principle ...

Answer 9

if you have a text on this material, try looking in it for an explanation of this 20/7 notation.

Answer 10

what accounting class is it? it seems to me to be one of the 300s

Answer 11

thats progress :)

Answer 12

cool, does that help you out with the formula you found?

Answer 13

Lol no, that formula didn't have anything to do with what I just found.

Answer 14

then we prolly need to find a different formula ...

if i knew more about amortizations and such; i could be of better use for this

Answer 15

did you find the definition for the term in your text? or online?

Answer 16

Yeah, I think I found it. Thanks so much for your help! :)

Answer 17

youre welcome, and good luck ;)