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answer number 20 plz You need a 20-year, fixed-rate mortgage...

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Finance

answer number 20 plz
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You need a 20-year, fixed-rate mortgage to buy a new home for $220,000 Your mortgage bank will lend you the money at a 71 percent APR for this 240 month loan. However, you can afford monthly payments of only $850, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon poyment have to be for you to keep your monthly payments at $850 ? Multiple Choice $444,417.97 \$i11.208.75 $476,489.37 $97,58516 $458,162.85

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