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You need a 35-year, fixed-rate mortgage to buy a new home for $310,000. Your bank will lend you the money at a 6.05 percent APR

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You need a 35-year, fixed-rate mortgage to buy a new home for $310,000. Your bank will lend you the money at a 6.05 percent APR for this 420 -month loan. However, you can only afford monthly payments of $1,150, 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 $1,150 ? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit \$ sign in your response.) Balioon payment

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