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Mathematics 17 Online
OpenStudy (anonymous):

Shannon finances $189,000 with a 20/7 balloon mortgage at 6.25%. How much will she pay for principal and interest over the life of the loan

OpenStudy (dumbcow):

The monthly payment for a 20 yr loan at 6.25% is $1381.45 The balance after year 7 is $147,291.59 Total = monthly payment* 84 months + balance

OpenStudy (anonymous):

that's your answer ? that's not one of my choices

OpenStudy (anonymous):

Joanne and Bill are financing $305,500 to purchase a house. They obtained a 20/6 balloon mortgage at 5.75%. What will their balloon payment be?

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