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Wow, are you sure you did it right? That might be terrible if you get through all the payments but can't make the final payment. That would be a bad day.
yeah, I think that I would prefer a fixed rate. After doing an amortized schedule for a variable rate, the balloon payment turned out pretty big. In fact it was bigger than the down payment.
oh yes. I looked up balloon payment and i see it is
I'm glad you learned what you need to know.
Figuring interest for a short period of time is done with intervals.
I am writing a college paper on purchasing property. I have to include an excel spreadsheet on two different options. I understand how to do the fixed rate. It is easy. I am totally lost on the variable rate and I don't know how to begin to explain it. I have the following: