Answered

Daniel is due to receive the balance of his trust fund in 5 years; as a result he has taken out a(n) ________ mortgage where he has made small payments for several years and will pay off the balance in one large payment with his trust funds. Question 25 options: shared appreciation graduated payment fixed rate balloon payment ARM

Answer :

Tundexi

Because Daniel is due to receive the balance of his trust fund, the Balloon Payment mortgage will pay off the balance in one large payment with his trust funds.

What is a Balloon Payment mortgage?

This refers to a mortgage that does not fully amortize over the term of the note thereby leaving a balance due at maturity

Here, the the Balloon Payment mortgage will pay off the balance of Daniel in one large payment with his trust funds.

Therefore, the Option D is correct.

Read more about Balloon Payment

brainly.com/question/9285857

#SPJ12

Other Questions