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A loan of $66000 is to be amortized with equal monthly payments over a 28-year period at 6.9%/year compounded monthly, with the first payment made
A loan of $66000 is to be amortized with equal monthly payments over a 28-year period at 6.9%/year compounded monthly, with the first payment made one month from now. Determine the outstanding balance at the end of 14 years.
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