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| rev | Admin | (Created page with "A purchase of 5020 is paid off with a loan at an annual effective interest rate of 6.25%. Payments are made at the end of each year until the loan is paid off. Each payment is 360 except for a final balloon payment, which is less than 720. Calculate the amount of the balloon payment. <ul class="mw-excansopts"><li>611</li><li>630</li><li>649</li><li>667</li><li>685</li></ul> {{soacopyright | 2023 }}") | Nov 19'23 at 14:07 | +404 |