6. The Bartolotti family took out a loan to have a garage built next to their house. The ten-year, 10.4% loan was for $56,188. The monthly payment was $475, but the promissory note stated that there...

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6. The Bartolotti family took out a loan to have a garage built next to their house.<br>The ten-year, 10.4% loan was for $56,188. The monthly payment was $475, but the<br>promissory note stated that there was a balloon payment at the end. What is the<br>sum of all but the last monthly payment? If the finance charge is $34,415.60, what<br>must the total of all of the monthly payments be? What is the amount of the balloon<br>payment for the final month of this loan?<br>11 Cengage Learning. All Rights Reserved. May not be scanned, copied<br>plicated, or posted to a publicly accessible website, in whole or in part.<br>Financial Algebra Guided Practice Workbook 4-2<br>55<br>O The<br>You le<br>

Extracted text: 6. The Bartolotti family took out a loan to have a garage built next to their house. The ten-year, 10.4% loan was for $56,188. The monthly payment was $475, but the promissory note stated that there was a balloon payment at the end. What is the sum of all but the last monthly payment? If the finance charge is $34,415.60, what must the total of all of the monthly payments be? What is the amount of the balloon payment for the final month of this loan? 11 Cengage Learning. All Rights Reserved. May not be scanned, copied plicated, or posted to a publicly accessible website, in whole or in part. Financial Algebra Guided Practice Workbook 4-2 55 O The You le

Jun 06, 2022
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