Question: Emon is securing a 7 - year balloon mortgage for $ 3 6 0 , 0 0 0 to finance the purchase of his first

Emon is securing a 7-year balloon mortgage for $360,000 to finance the purchase of his first home. The monthly payments are based on a 30-year amortization. If the interest rate is 2.4% compounded monthly, what will be his balloon payment at the end of the 7 years?
Part 1 of 2
(a.) What is Emon's monthly payment?
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