Mathematics, 24.05.2021 15:50 ajbrock1004
Stuart is considering a 3/27 balloon mortgage with an interest rate of 4.4to purchase a house for $268,000. What will be his balloon payment at the end of 3 years?
Answers: 3
: 
years to pay and 
years amortization
months
![$FV=PV(1+r)^n-P\left[\frac{(1+r)^n-1}{r}\right]$](/tpl/images/1343/6319/0e4ea.png)
![$FV=268,000(1+0.00366)^{36}-1407.41\left[\frac{(1+0.00366)^{36}-1}{0.00366}\right]$](/tpl/images/1343/6319/ca4cc.png)
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