Finance
Which of the following describes a balloon mortgage in Kentucky?
AMonthly payments decrease over time
BPeriodic payments of principal and interest with a large final payment✓ Correct
CPayments are adjusted annually based on inflation
DThe property serves as collateral only if payments are missed
Explanation
A balloon mortgage has regular periodic payments (often based on a longer amortization) but requires a large lump-sum payment at the end of a shorter loan term.
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