Mathematics

Rohan Stewart

28 June, 10:29

Scott purchased a $146,000 home with a 7/23 balloon mortgage. His initial rate was 3.5%. At the end of the initial rate he decided to refinance a balloon payment with a 30 year mortgage fixed at 5%. What is his new mortgage payment

A:$654.87

B:$707.63

C:$655.61

D:$666.55

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