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A 15-year mortgage has an annual interest rate of 6.1 percent and a loan amount of $190,000. ( Hint: Use the CUMPRINC function in Excel.)

A 15-year mortgage has an annual interest rate of 6.1 percent and a loan amount of $190,000. (Hint:Use the "CUMPRINC" function in Excel.) What is the remaining balance at the 48th payment?

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