Question: You are looking to purchase a tesla suv. the price of the vehicle is 93,500. you negotiate a 6 year loan with no money down

You are looking to purchase a tesla suv. the price of the vehicle is 93,500. you negotiate a 6 year loan with no money down and no monthly payments during the 1st year. After the 1st year, you will pay 1300 per moth for the following 5 years, with a ballon payment at the end to cover the remaining principal of the loan. The APR on the loan with monthly compounding is 5%, what will be the amount of the balloon payment 6 years from now?

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