Consider a 5-year balloon loan for 100000 the bank requires
Consider a 5-year balloon loan for $100,000. The bank requires a monthly payment equal to that of a 30-year fixed-rate loan with a nominal annual rate of 5.5%.
How much will the borrower owe when the balloon payment is due?
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consider a 5-year balloon loan for 100000 the bank requires a monthly payment equal to that of a 30-year fixed-rate
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