Business
Business, 02.02.2022 14:00, wittlerylee34

You have just arranged for a $1,820,000 mortgage to finance the purchase of a large tract of land. The mortgage has an APR of 8.4 percent, and it calls for monthly payments over the next 20 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

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