Mathematics, 19.03.2021 03:40 dommalb
6. The Bartolotti family took out a loan to have a garage built next to their house.
The ten-year, 10.4% loan was for $56,188. The monthly payment was $475, but the
promissory note stated that there was a balloon payment at the end. What is the
sum of all but the last monthly payment? If the finance charge is $34,415.60, what
must the total of all of the monthly payments be? What is the amount of the balloon
payment for the final month of this loan?
Answers: 1
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6. The Bartolotti family took out a loan to have a garage built next to their house.
The ten-year,...
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