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a new home for $250,000. Your 15-year, fixed-rate mortgage to buy You need a mortgage bank will lend you the money at a 9.1 percent

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a new home for $250,000. Your 15-year, fixed-rate mortgage to buy You need a mortgage bank will lend you the money at a 9.1 percent APR for this 180-month loan. However, you can afford monthly payments of only $850, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $850? Multiple Choice $649,339.68 $156,687.89 $166,684.96 $675,313.27 $675,313.27 $629,859.49

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