Question 1163691
you can use the following calculator to solve this problem.


<a href = "https://www.mortgagecalculator.org/calcs/balloon.php#currentrates" target = "_blank">https://www.mortgagecalculator.org/calcs/balloon.php#currentrates</a>


you first calculate the monthly payment for a 25 year mortgage with a 3 year term at 4.5% per year.


the calculator tells you that the monthly payment is 1,000.4985 with a balloon payment at the end of the 3 year term os 167,479.3474.


here are the inputs and outputs for that analysis.


<img src = "http://theo.x10hosting.com/2020/082206.jpg" >


<img src = "http://theo.x10hosting.com/2020/082207.jpg" >


<img src = "http://theo.x10hosting.com/2020/082208.jpg" >


you then calculate the monthly payment for a 22 year mortgage with a 22 year term at 5% per year.
the 22 year term on a mortgage for 22 years effectively makes it a straight 22 year loan with no balloon payment.
you will b3e able to see this because the balloon payment comes out as 0.


<img src = "http://theo.x10hosting.com/2020/082209.jpg" >


<img src = "http://theo.x10hosting.com/2020/082210.jpg" >


<img src = "http://theo.x10hosting.com/2020/082211.jpg" >




there are other ways to calculate this (i used a TI-BA-II and i used excel), but this is the most straight forward and easy to do this since this calculator is designed to handle balloon payments.


my other methods yielded the same answer.