Say you bought a house for $295,000 with 10% down, and financed it from a bank for a 30-year term at 4.25% interest per year compounded monthly. If the bank is ready to allow you a ballon payment of $100,000 at the end of the 30-year term, what will be the payment?

		$1,168
		$1,306
		$1,444
		$1,563

Answer rating: 100% (QA)

Monthly interest rate 42512 3542 Time period 360 ... View the full answer