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A 3 0 - year mortgage has an annual interest rate of 5 . 8 5 percent and a loan amount of $ 2 4

A $30 -$ year mortgage has an annual interest rate of $5.85$ percent and a loan amount of $ $245, 000 . ($ Hint: Use the "CUMPRINC" function

in Excel. $)$ What is the remaining balance at the $84$ th payment?

Note: Round your answer to $2$ decimal places.

Balance

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Question

A 3 0 - year mortgage has an annual interest rate of 5 . 8 5 percent and a loan amount of $ 2 4

A 30-year mortgage has an annual interest rate of 5.85 percent and a loan amount of $245,000.(Hint: Use the "CUMPRINC" function in Excel.) What is the remaining balance at the 84th payment? Note: Round your answer to 2 decimal places. Balance

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A $30 -$ year mortgage has an annual interest rate of $5.85$ percent and a loan amount of $ $245, 000 . ($ Hint: Use the "CUMPRINC" function

in Excel. $)$ What is the remaining balance at the $84$ th payment?

Note: Round your answer to $2$ decimal places.

Balance