o Prompt: Similar to the example in your text, calculate and present in a chart the cost of borrowing based upon: Principal borrowed of 89,000 12 Annual payments a year Monthly payments are $1,100

o Prompt: Similar to the example in your text, calculate and present in a chart the cost of borrowing based upon: Principal borrowed of 89,000 12 Annual payments a year Monthly payments are $1,100 8.75% interest rate 72 total payments Period interest rate 1% What would be the final payment/balloon payment due on month 72 to be settled with this obligation?