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Mathematics 17 Online

OpenStudy (anonymous):

Stephanie finances $423,000 with a 20/5 balloon mortgage at 4.45%. How much will she pay for principal and interest over the life of the loan? $508,077.56 $509,378.67 $510,674.71 $505,422.01

12 years ago

OpenStudy (anonymous):

@tcarroll010

12 years ago

OpenStudy (anonymous):

@Falco276

12 years ago

OpenStudy (anonymous):

@jim_thompson5910

12 years ago

OpenStudy (anonymous):

@JOshua_Lewis

12 years ago

OpenStudy (anonymous):

someone help please

12 years ago

jimthompson5910 (jim_thompson5910):

here is a calculator that may help you out http://www.bankrate.com/calculators/mortgages/balloon-home-mortgage-calculator.aspx

12 years ago

OpenStudy (anonymous):

what does 20/5 mean for the calculator?

12 years ago

jimthompson5910 (jim_thompson5910):

oh nvm, this calculator is based on 30 years, not 20 one sec

12 years ago

OpenStudy (anonymous):

12 years ago

jimthompson5910 (jim_thompson5910):

check out this one instead http://tcalc.timevalue.com/all-financial-calculators/mortgage-calculators/balloon-mortgage-calculator.aspx

12 years ago

OpenStudy (anonymous):

thanks

12 years ago

jimthompson5910 (jim_thompson5910):

you're welcome, tell me what you get

12 years ago

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