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Edith obtains a $2,250,000 balloon mortgage for an investment property. The mortgage has terms of 20/4 at an interest rate of 4.5%. The monthly payment
Edith obtains a $2,250,000 balloon mortgage for an investment property. The mortgage has terms of 20/4 at an interest rate of 4.5%. The monthly payment is $14,234.61. How much is the remaining balance after 4 years rounded to the nearest dollar? (2 points)
a
$2,036,457
b
$1,566,739
c
$1,945,745
d
$1,800,000
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