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Business, 13.08.2019 18:10 lexireyne2005

You need a 30-year, fixed-rate mortgage to buy a new home for $335,000. your mortgage bank will lend you the money at an apr of 6.3 percent for this 360-month loan. however, you can afford monthly payments of only $1,750, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. how large will this balloon payment have to be for you to keep your monthly payments at $1,750? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

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