Problem $6-76$ Calculating a Balloon Payment $($LO$2)$

You have just arranged for a $$1,800,150$ mortgage to finance the purchase of a large tract of land. The mortgage has a $9\mathrm{.}3\%$ APR $($semiannual$),$ and it calls for monthly payments over the next $30$ years. However, the loan has an eight$-$year balloon payment, meaning that the loan must be paid off then.

How big will the balloon payment be$?($Round off EMR to $4$ decimal places. Round the final answer to $2$ decimal places. Omit $ sign in your response.$)$

Balloon payment

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