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A mortgage requires payments of $1,000.00 at the end of every month for 25 years. If interest is 6% compounded semi-annually, calculate the principal of

A mortgage requires payments of $1,000.00 at the end of every month for 25 years. If interest is 6% compounded semi-annually, calculate the principal of the loan.

Select one:

a. $300,000

b. $33,328.64

c. $156,297.23

d. $46,188.41

e. $155,206.86

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