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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
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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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