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Balloon Payment (Math)
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5 votes
Balloon Payment (Math)

Balloon Payment (Math)-example-1
User Shevron
by
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1 Answer

4 votes

Answer:

96

Explanation:

The loan duration is for 8 years, a total of 12ยท8 = 96 monthly payments. The 96th payment is the balloon payment.

User Govinda Rajbhar
by
5.5k points
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