Suppose that you wish to buy a new home that will cost you $451,036. You must put $80,000 down, and the bank offers you a 5-year 5.3% APR negative amortization loan with a payments $1,225 per month, and a balloon payment of $68,987 (your 360th payment). How much will you owe the bank at that time?

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Solution 02 27 sep Loon amaunt 461036 donn Payment E000 451036 donn amailizalion ... View the full answer