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A mortgage loan is made in the amount of $92,758 at 8% for 20 years with payments to be made monthly. Assume a fixed rate
A mortgage loan is made in the amount of $92,758 at 8% for 20 years with payments to be made monthly. Assume a fixed rate and constant payments. Compute the loan balance after the borrower has made 18 years of payments. Round your answer to two decimal places.
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