Question

Help please?

Andrew and Aimee have a 20/6 balloon mortgage for $341,100 with a rate of 5.15%. How much will they pay in interest over the life of the loan?

$109,200.11

$95,487.13

$88,507.79

$96,656.46

Answer 1

I got the 2nd one, what did you guys get?

Answer 2

Monthly payment = $2,279.47.

Answer 3

Amortize for 72 months, interest = $95,487.

Answer 4

so yes B

Answer 5

yep its b!

Answer 6

@plohrr Yay thank you :) could you help me with this one too please?
Maya obtains a $423,000 30/10 balloon mortgage with a rate of 5.65%. What will her monthly payments be?

$3712.13

$2945.72

$2715.51

$2441.71

Answer 7

i got the last one, $2441.71

Answer 8

im not sure tho let me redo because im a little tired

Answer 9

damn it @plohrr your ite again y soo fast man!

Answer 10

i have a financial calculator lol

Answer 11

and thanks for confirming him @djcool31 :)

Answer 12

hahah cheat lol

Answer 13

they are virtually impossible without one my friend xD

Answer 14

np

Answer 15

omg I NEED THAT lol how do you have a financial calculator??? @plohrr

Answer 16

i think there are like free online versions but idk

Answer 17

yeah 4real @brittneyy18rm

Answer 18

if i didn't have one i would take 10 minutes a pop at this stuff LOL

Answer 19

yeah true man it takes 2 long!

Answer 20

I hope you guys don't mind but I'm going to post my last 3 questions I was iffy about and tag you guys in them, thank you so much :) @djcool31 @plohrr

Answer 21

np!

Answer 22

shoot.

Answer 23

http://www.financeformulas.net/Loan_Balloon_Balance.html

There are also dozens of online calculators that do the work for you.

Answer 24

found one @brittneyy18rm http://www.bankrate.com/calculators.aspx?ec_id=m1082515&ef_id=Ut10DQAAAZXyNTX2:20140120190757:s

Answer 25

financial calc :D