Finance
Which of the following best describes a balloon mortgage?
AA mortgage with monthly payments that increase over time
BA mortgage with regular payments followed by a large lump-sum payment at maturity✓ Correct
CA mortgage with a fixed rate for the entire term
DA reverse mortgage for seniors
Explanation
A balloon mortgage requires regular monthly payments for a set period, followed by a large lump-sum (balloon) payment of the remaining balance at the end of the term.
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