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Ariel would like to borrow $ 1 7 0 , 0 0 0 to buy a house. Her parents have offered to help by giving

Ariel would like to borrow $170,000 to buy a house. Her parents have offered to help by giving her the money over a 15-year period if she would pay the same rate that their CD pays at the bank, which is 5.5% per year. Ariel would like to make monthly payments to her parents and also make a balloon payment to them for $60,000. What would her monthly payments be?

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The monthly payment for Ariels loan would be 89879 Heres how we can calculate it Loan amount 170000 ... blur-text-image

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