An investor obtains a balloon mortgage with the terms shown below. Balloon Mortgage
$530,000
30/7 balloon
6.8% annual rate
What is the monthly payment on this mortgage?
a. 3,455.20 b. 3,678.58 c. 6,738.57 d. 7,947.40

9514 1404 393

  a.  $3,455.20

Step-by-step explanation:

The monthly payment is given by the amortization formula:

  A = P(r/12)/(1 -(1 +r/12)^(-12t))

for loan amount P at annual rate r for t years.

For this mortgage, we use P = $530,000, r = 0.068, t = 30.

  A = $530,000(0.068/12)/(1 -(1 +0.068/12)^(-360)) ≈ $3,455.20

The monthly payment is $3,455.20.

Additional comment

In 7 years, the balloon payment will be $481,559.91.

ok so the answer to your question is simple as long as you look at the different dimensions that contain the exemplary letters that combined in the right order give you words that eventually within the 5th dimension will conform and give you the correct answer to your question. hope i , stop looking at this easily, look at it with a spectral view.

step-by-step explanation:

told you