Question: 7. Using the previous exercise, suppose now, you can only aord monthly payments of $1,000, so you oer to pay o any remaining loan balance

7. Using the previous exercise, suppose now, you can only aord monthly payments of $1,000, so you oer to pay o any remaining loan balance at the end of the loan in the form of a single balloon payment. What will be the amount of the balloon payment if you are to keep your monthly payments at $1,000?

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