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You want to purchase a $50,000 car with a 10 percent down payment. The mortgage has a 5.2 percent APR, compounded quarterly, and calls for

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You want to purchase a $50,000 car with a 10 percent down payment. The mortgage has a 5.2 percent APR, compounded quarterly, and calls for equal quarterly payments over the next 10 years. Your first payment will be due three months from now. However, the mortgage has a four-year balloon payment, meaning that the balance of the loan must be paid off at the end of Year 4. There were no other transaction costs or finance charges. What is the present value of the four-year balloon payment? How much will the balloon payment be in four years? Hint: The present value of the periodic payment the present value of the balloon payment the value of the mortgage. Excel Syntax Pirate, nper, pmt, [1].[type]) O $24,177.21: $29,727,43 $22,378.43; $27.515.71 $25,144,30;$30,916,52 0 $21,517.72; $26,457.41

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