anonymous
  • anonymous
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
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
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anonymous
  • anonymous
@ganeshie8
anonymous
  • anonymous
@kropot72
ganeshie8
  • ganeshie8
I don't seem to remember the formulas, if psble can you take a screenshot of balloon mortgage lessons page and attach ?

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anonymous
  • anonymous
um i cant
anonymous
  • anonymous
but i do remember the formulas
ganeshie8
  • ganeshie8
what does `20/10 balloon mortgage` mean ?
ganeshie8
  • ganeshie8
what quantities do 20 and 10 represent here ?
anonymous
  • anonymous
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.
anonymous
  • anonymous
right @ganeshie8
anonymous
  • anonymous
@kropot72
anonymous
  • anonymous
@hartnn

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