Ballon Mortgage

I am sorry I am not familiar with the terminology.
I know what a balloon mortgage is but what does 30/8 mean.
I assume it has to do with the size of the payments and how often they are made.
I googled it and I am wondering if you mean a 8 year contract based on a 30 year amortization period, but even if that is what you mean I would still need to know how often the payments are made.
Could you please explain?

I am also assuming it is $147500 at 3.6% per annum reducible with each payment.

Melody I'm just as lost as u are that is exactly how the problem is presented on the worksheet