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A mortgage loan is written for $100,000 at 4% APR with equal monthly payments for 30 years. What will be the outstanding balance after 5

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A mortgage loan is written for $100,000 at 4% APR with equal monthly payments for 30 years. What will be the outstanding balance after 5 years of payments? (Hint: Compute the monthly payment and then compute the present value of the payments over the remaining period of the loan.]

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