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Assume Jose made a deal to purchase a $300,000 house with a 30-year mortgage at interest rate of 6%. He can afford to pay only
- Assume Jose made a deal to purchase a $300,000 house with a 30-year mortgage at interest rate of 6%. He can afford to pay only $1,000 per month and agreed to make a balloon payment of the balance at the end of the 30th year. Approximately, how much will the balloon payment be?
- a. $802,258
- b. $133,208
- c. $166,792
- d. $1,004,515
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Codes Of Finance
Authors: Vincent Antonin Lépinay
1st Edition
0691151504, 978-0691151502
