Question: While balloon mortgage loan payments are typically based on a 30 year amortization schedule, the loan actually matures either 3, 5, 7, or 10 years.

While balloon mortgage loan payments are typically based on a 30 year amortization schedule, the loan actually matures either 3, 5, 7, or 10 years. Of the following, which is the balloon payment on interest only loan of $450,000 borrowed at 5% A. 450,000 B. 505,000 C. 574,326 D. 520,931

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