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What will be the amount of the balloon payment

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Question - You are looking to purchase a Tesla model X sport utility Vehicle. The price of the vehicle is $97,750 you negotiate a six-year loan with no money down and no monthly payments during appreciate after the first year you will pay $1725 per month for the following five years with a balloon payment at the end to cover the remaining principal on the loan the APR on the loan with monthly compounding is 6.2% what will be the amount of the balloon payment six years from now do not round monthly interest rate calculation round intermediate value calculation and final answer to two different places.

Reference no: EM132997969

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