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Adam buys a $300,000 home. Mortgage payments are to be made monthly for 30 years with the first payment to be made one month from
Adam buys a $300,000 home. Mortgage payments are to be made monthly for 30 years with the first payment to be made one month from the loan origination. The annual effective rate of interest is 6%. At the beginning of the 11th year Adam adds $300 to each payment in order to repay the loan earlier. What will be Adam's final payment?
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