You borrow $$300,000$ at $5\mathrm{.}8\%$ for a mortgage on a house, but you don't feel comfortable making payments larger than $$1600$ per month. The mortgage lender agrees to allow you to pay $$1600$ per month, then make a balloon payment at the end of the $30$ year loan to cover any additional costs.

What is the value of the balloon payment

$$

What dollar amount have you paid on the house?

How much should be paid monthly to pay down the entire loan in $30$ years?