Verified Answer :

Hagrid

The correct answer for this question is this one: "A. $3398.79"
Miranda obtains a $296,000 15/5 balloon mortgage with a rate of 6.75%. Her monthly payments will be $3398.79
These are the following choices as seen from other source:
A. $3398.79
B. $2786.18
C. $2619.33
D. $2340.75

Hope this helps answer your question and have a nice day ahead.

Answer:

Miranda's monthly payments are $2614.64

Step-by-step explanation:

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Here, p = 296000

n = 15 years = @@MATH_TOKEN_1@@

r =  6.75/12/100 =0.0056

Putting these values in formula we get,

@@MATH_TOKEN_2@@

= @@MATH_TOKEN_3@@

= $2614.64

So, her monthly payments are $2614.64.