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OpenStudy (anonymous):
HELP!!!! Bentley and Lilly have been accepted for a 25/7 balloon mortgage at 4.48%. If Bentley and Lilly finance $387,300, how much will they pay in principal and interest over the life of the loan?
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OpenStudy (anonymous):
I have used the FV formula P(1+R)n/1+r*n-1, but am not getting any of the answer choices
OpenStudy (anonymous):
What am I doing wrong? 387,300{1+.0448)*25/(1+.0448)*25-1
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