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1. Juliet has a 10-year mortgage of $500,000 with an interest rate of 3.5% APR, compounded quarterly. Mortgage payments are made at the beginning of

1. Juliet has a 10-year mortgage of $500,000 with an interest rate of 3.5% APR, compounded quarterly. Mortgage payments are made at the beginning of each month. What is the balance remaining on this mortgage after the 60th payment?

Select one:

a. $216,077

b. $270,937

c. $275,065

d. $266,797

e. $250,000

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