Question: . A borrower takes out a loan for 2 5 0 , 0 0 0 with a 1 0 year term and a 3 .

. A borrower takes out a loan for 250,000 with a 10 year term and a 3.2% rate. Their monthly payment for 10 years is $750. At the end of the 10 year term, they owe $75,000. This is an example of:
Balloon Payment
A high interest rate
Negative amortization
A loan modification

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