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Stephanie finances $423,000 with a 20/5 balloon mortgage at 4.45%. How much will she pay for principal and interest over the life of the loan? Can someone show me how to solve the answer? A. $508,077.56
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Stephanie finances $423,000 with a 20/5 balloon mortgage at 4.45%. How much will she pay for principal and interest over the life of the loan? Can someone show me how to solve the answer?

A. $508,077.56
B. $509,378.67
C. $510,674.71
D. $505,422.01

User Phuc Tran
by
7.8k points

2 Answers

7 votes
it is b.509,378.67
just add then multiply

User Elley
by
8.8k points
4 votes
The answer is C I think
Hope this helps :)
User Ebrahim Ghasemi
by
7.7k points
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