Calculate the balloon payment after 5 years on a $100,000 loan with an 10% interest rate,...

Calculate the balloon payment after 5 years on a $100,000 loan with an 10% interest rate, a 20-year amortization and monthly payments of $965.02

Expert Solution

Calculate the balloon payment using excel function

=FV(rate,nper,pmt,pv)

=FV(10%/12,5*12,965.02,-100000)

=89802.57

the above is answer

jeff jeffy answered 2 years ago

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