Finance
A 'balloon payment' mortgage in Hawaii requires:
AEqual payments for the entire loan term
BA large lump-sum payment of the remaining balance at the end of the loan term✓ Correct
CMonthly payments that increase by a set percentage each year
DInterest-only payments for the first 10 years
Explanation
A balloon mortgage has regular payments (often based on a longer amortization) but requires the outstanding balance to be paid in full at a specified maturity date, resulting in a large final 'balloon' payment.
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