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FINANCE HW 6.4 Question 10 (of 11) value: 2.00 points You need a 30-year, fixed-rate mortgage to buy a new home for $335,000. Your mortgage
FINANCE HW 6.4 Question 10 (of 11) value: 2.00 points You need a 30-year, fixed-rate mortgage to buy a new home for $335,000. Your mortgage bank will lend you the money at an APR of 6.3 percent for this 360-month loan. However, you can afford monthly payments of only $1,750, 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 $1,750? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Balloon payment HintsReferences eBook&Resources Hint #1 Check my work
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