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You need a 20-year, fixed-rate mortgage to buy a new home for $170,000. Your mortgage bank will lend you the money at a 8.1 percent

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You need a 20-year, fixed-rate mortgage to buy a new home for $170,000. Your mortgage bank will lend you the money at a 8.1 percent APR for this 240-month loan. However, you can afford monthly payments of only $850, 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 $850? Multiple Choice $337,004.46 $69,130.66 $54,603.69 $361,324,37 Multiple Choice 21 O $337,004.46 $69,130.66 O $54,603.69 $361,324.37 $347,427.28

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