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(1 point) Jeremy takes out a 30-year mortgage of $220000 with a nominal interest rate of 7.5 % compounded monthly, with the first payment due

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(1 point) Jeremy takes out a 30-year mortgage of $220000 with a nominal interest rate of 7.5 % compounded monthly, with the first payment due in one month. Use the prospective method' to calculate how much he owes on the loan immediately after the 87th payment? *** Be careful of the drop payment. The drop payment is a result of rounding the payment up. Answer: $

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