You would like to buy a house that costs $ 350,000. You have $ 50,000 in cash that you can put down on thehouse, but you need to borrow the rest of the purchase price. The bank is offering you a30-year mortgage that requires annual payments and has an interest rate of 7% per year. You can afford to pay only $22,970 per year. The bank agrees to allow you to pay this amount eachyear, yet still borrow $ 300,000. At the end of the mortgage(in 30years), you must make a balloonpayment; thatis, you must repay the remaining balance on the mortgage. How much will be this balloonpayment?