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OpenStudy (anonymous):
completely stuck I need help please!: A mortgage has the terms shown below: Balloon mortgage $300,000 25/5 balloon 6% annual rate Initial Monthly Payment: $1932.90 What is the amount of the balloon payment rounded to the nearest dollar?
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OpenStudy (anonymous):
@StudyGuidance
OpenStudy (perl):
Can you define what a balloon mortgage is, sorry I'm not familiar with this term.
OpenStudy (anonymous):
a balloon is when a mortgage with a large portion of the borrowed principal is repaid in a single payment at the end of the loan period. that's my teachers definition.
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