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(5 points) Steve needs a 30-year, fixed-rate mortgage to buy a new home for $250,000. His mortgage bank will lend you the money at a

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(5 points) Steve needs a 30-year, fixed-rate mortgage to buy a new home for $250,000. His mortgage bank will lend you the money at a 6 percent APR for this 360-month loan. However he can only afford monthly payments of $1000, so Stev balance at the end of the loan in the form of a single balloon payment. How large w balloon payment have to be for him to keep his monthly payments at $1000? offers to pay off any remaining loan

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