Question

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

Answer 1

@tcarroll010

Answer 2

@Falco276

Answer 3

@jim_thompson5910

Answer 4

@JOshua_Lewis

Answer 5

someone help please

Answer 6

here is a calculator that may help you out

http://www.bankrate.com/calculators/mortgages/balloon-home-mortgage-calculator.aspx

Answer 7

what does 20/5 mean for the calculator?

Answer 8

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

one sec

Answer 9

ok

Answer 10

check out this one instead

http://tcalc.timevalue.com/all-financial-calculators/mortgage-calculators/balloon-mortgage-calculator.aspx

Answer 11

thanks

Answer 12

you're welcome, tell me what you get