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You want to buy a winter resort in Park City, Utah, for half-a-million dollars. The mortgage rate is 3% p.a. for a 30-year term. You

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You want to buy a winter resort in Park City, Utah, for half-a-million dollars. The mortgage rate is 3% p.a. for a 30-year term. You can afford to pay only $1,250 per month. What is the balloon payment upon maturity of the mortgage? Balloon payment = $. m. .25 .35 .50 .625

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