Mandy obtains a $155,000 20/6 balloon mortgage with a rate of 4.25%. What will her monthly payments be?

The answer to the question is

Her monthly payments will be $279.98

Step-by-step explanation:

To solve the question we apply the equation for  monthly payments as follows

Fixed monthly mortgage repayment formula is

Where

A = Payment amount per month

r = interest rate = 4.25 %

n = number of months = 20×12 months or 240 months

P = Mortgage value = $155,000

Therefore A = = $279.98

For balloon mortgage the loan balance is paid off or refinanced at the end of the loan term

x = 25/2304

step-by-step explanation:

0.02

step-by-step explanation:

time of 9 192 631 770 periods of the radiation corresponding to the transition between the 2 hyperfine levels of the ground state of the caesium 133 atom at 0 k (but other seconds are sometimes used in astronomy)