You’d like to buy a house. You can borrow $600,000 but you can only afford to...

You’d like to buy a house. You can borrow $600,000 but you can only afford to make monthly payments of $2,750. The lender agrees to allow you to make this payment on a 30 year mortgage, but then you must make a balloon payment to cover any shortfall. What is the dollar amount you’ll still owe if your mortgage rate is 4.349%
$174,763
$217,206
$189,305
$154,611
You have $12,000 in credit card debt and have finally decided to start to really pay it off. You determine that you’ll be able to make the following monthly payments. The APR on your credit card is 22%. Your first payment is today. How much will you owe after your last payment?
Month

Payment

1

2000

2

2000

3

1500

4

1500

5

1500

6

1000

7

1000

8

500

9

500

10

500

	$842.19
		$1044.68
		$0.00
		$785.60

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Expert Solution

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jeff jeffy answered 1 year ago

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Subjects

Month	Payment
1	2000
2	2000
3	1500
4	1500
5	1500
6	1000
7	1000
8	500
9	500
10	500