Balloon Payments Amanda Rice has arranged to purchase a $$775,000$ vacation home

in the Bahamas with a $20$ percent down payment. The mortgage has a $4\mathrm{.}9$ APR com$-$

pounded monthly and calls for equal monthly payments over the next $30$ years. Her first

payment will be due one month from now. However, the mortgage has an eight$-$year

balloon payment, meaning that the balance of the loan must be paid off at the end of

Year $8.$ There were no other transaction costs or finance charges. How much will Aman$-$

da's balloon payment be in eight years?