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A real estate investor takes out a $200,000 mortgage at a 4.5 interest rate compounded monthly for 15 years. He plans to pay the mortgage
A real estate investor takes out a $200,000 mortgage at a 4.5 interest rate compounded monthly for 15 years. He plans to pay the mortgage off completely after making payments for 5 years. How much will he owe at that time?
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