Question: Using the information below, calculate the balloon payment for a partially amortized mortgage. Loan amount: GHC 72,000, Term to maturity: 8 years, Amortization term: 20

Using the information below, calculate the balloon payment for a partially amortized mortgage. Loan amount: GHC 72,000, Term to maturity: 8 years, Amortization term: 20 years, Interest rate: 7%, Monthly payment: GHC 558.22 *

1 point

B. GHC 30,876.32

A. GHC 54,281.43

D. GHC 34,122.38

C. GHC 65,786.43

15. For how many years will the interest rate of a five-year-one-year adjustable rate mortgage (ARM) be fixed? *

1 point

A. One year

C. Four years

B. Three years

D. Five years

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