26)

You bought a house with price of $500,000. Your LTV (loan-to-value ratio) is 80%. You choose the 30-year mortgage with interest rate 5%. Assuming the total transaction cost is $5,000. What will be the loan balance at the end of 6 years?

Select one:

a. $392,122.50

b. $355,244.47

c. $385,234.09

d. $359,741.24