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anonymous
 one year ago
Carson is accepted for a 20/10 balloon mortgage at 4.27%. If Carson finances $235,750, how much will his balloon payment be?
$142,623.08
$143,130.58
$148,713.09
$188,077.31
anonymous
 one year ago
Carson is accepted for a 20/10 balloon mortgage at 4.27%. If Carson finances $235,750, how much will his balloon payment be? $142,623.08 $143,130.58 $148,713.09 $188,077.31

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ganeshie8
 one year ago
Best ResponseYou've already chosen the best response.0I don't seem to remember the formulas, if psble can you take a screenshot of balloon mortgage lessons page and attach ?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0but i do remember the formulas

ganeshie8
 one year ago
Best ResponseYou've already chosen the best response.0what does `20/10 balloon mortgage` mean ?

ganeshie8
 one year ago
Best ResponseYou've already chosen the best response.0what quantities do 20 and 10 represent here ?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0The 20 means that the beginning fixed monthly payments are going to be calculated as if the mortgage would be paid off in 20 years. The 10 means that fixed payments will be made for 10 years. After the 10 years, the balloon payment is due.
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