Question
You have financed a new house, borrowing $550,000 for 50 years. The loan has an interest rate of 4.7 percent for the first seven years
You have financed a new house, borrowing $550,000 for 50 years. The loan has an interest rate of 4.7 percent for the first seven years and then a balloon payment at the end of that period. What will be your monthly payment? How much will the balloon payment be?
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The Wealthtech Book The FinTech Handbook For Investors Entrepreneurs And Finance Visionaries
Authors: Susanne Chishti, Thomas Puschmann
1st Edition
1119362156, 978-1119362159
