Finance
A balloon mortgage in Missouri requires the borrower to:
AMake increasing payments over time
BPay a large lump sum at the end of the loan term✓ Correct
CPay only interest for the loan's life
DMake no payments for the first year
Explanation
A balloon mortgage has relatively small periodic payments with a large lump-sum ('balloon') payment due at the end of the loan term. The borrower must refinance or pay off the balance at maturity.
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