Question: Problem 6-73 Calculating a Balloon Payment (LO2) You have just arranged for a $1,800,130 mortgage to finance the purchase of a large tract of land.

Problem 6-73 Calculating a Balloon Payment (LO2) You have just arranged for a $1,800,130 mortgage to finance the purchase of a large tract of land. The mortgage has a 9.1% 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 "EMR number to 5 decimal places. Do not round other intermediate calculations. Round the final answer to 2 decimal places. Omit S sign in your response.) Balloon payment CS

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