Q$9.$ You would like to buy a house that costs $.$ You have in cash that you can put down on the$$ house, but you need to borrow the rest of the purchase price. The bank is offering you a$30-$year mortgage that requires annual payments and has an interest rate of per year. You can afford to pay only per year. The bank agrees to allow you to pay this amount each$$ year, yet still borrow $.$ At the end of the mortgage$($in $30$ years$),$ you must make a balloon$$ payment; that$$ is$,$ you must repay the remaining balance on the mortgage. How much will be this balloon$$ payment?

$$Hint: The balloon payment will be in addition to the $30$th payment.

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Part $1$

The balloon payment is $$$

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enter your response here. $($Round to the nearest$$ dollar.$)$