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You need a 25-year, fixed-rate mortgage to buy a new home for $180,000. Your mortgage bank will lend you the money at a 6.1 percent

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You need a 25-year, fixed-rate mortgage to buy a new home for $180,000. Your mortgage bank will lend you the money at a 6.1 percent APR for this 300 -month loan. However, you can afford monthly payments of only $900, 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 $900 ? Multiple Choice $22,929.34 $198,178.6 $41.629.58 $190,556,34 $184,839.65

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