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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

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  1. anonymous
    • one year ago
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    @ganeshie8

  2. anonymous
    • one year ago
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    @kropot72

  3. ganeshie8
    • one year ago
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    I don't seem to remember the formulas, if psble can you take a screenshot of balloon mortgage lessons page and attach ?

  4. anonymous
    • one year ago
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    um i cant

  5. anonymous
    • one year ago
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    but i do remember the formulas

  6. ganeshie8
    • one year ago
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    what does `20/10 balloon mortgage` mean ?

  7. ganeshie8
    • one year ago
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    what quantities do 20 and 10 represent here ?

  8. anonymous
    • one year ago
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    The 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.

  9. anonymous
    • one year ago
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    right @ganeshie8

  10. anonymous
    • one year ago
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    @kropot72

  11. anonymous
    • one year ago
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    @hartnn

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