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4.03 Mortgage Please explain these to me, thank you. 4. Julianne and Benjamin are nancing $113,500 to purchase a house. They obtained a 15/5 balloon

4.03 Mortgage

Please explain these to me, thank you.

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4. Julianne and Benjamin are nancing $113,500 to purchase a house. They obtained a 15/5 balloon mortgage at 4.95%. What will their balloon payment be? (3 points) 0 $138,214.50 0 $64,924.03 0 $84,887.22 0 $85,433.10 5. Stephanie finances $423,000 with a 20/5 balloon mortgage at 4.45%. How much will she pay for principal and interest over the life of the loan? (3 points) 0 $508,077.56 0 $509,378.67 0 $510,574.71 0 $505,422.01

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