Mandy obtains a $155,000 20/6 balloon mortgage with a rate of 4.25%. What will her monthly payments be?

The answer to the question is

Her monthly payments will be $279.98

Step-by-step explanation:

To solve the question we apply the equation for  monthly payments as follows

Fixed monthly mortgage repayment formula is

Where

A = Payment amount per month

r = interest rate = 4.25 %

n = number of months = 20×12 months or 240 months

P = Mortgage value = $155,000

Therefore A = = $279.98

For balloon mortgage the loan balance is paid off or refinanced at the end of the loan term

distance covered by pamela in 9 l of fuel = 99km

let us apply unitary method here.

distance covered by pamela in 1 l of fuel =99/9 =11 km

now let us find distance covered by pamela if she has 12 l of fuel.

distance covered in 12 l = distance covered in 1 l of fuel * 12

we know that distance covered by here in 1 l is 11 km.

so distance covered in 12 l of fuel = 11*12 = 132 km.

uhhh idk u yolo?