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Ann obtains a fully amortizing 3 0 - year Fixed Rate Mortgage with monthly payments for $ 2 , 5 0 0 , 0 0

Ann obtains a fully amortizing

30 -

year Fixed Rate Mortgage with monthly payments for $

2, 500, 000

9.25 % .

What will be Anns mortgage balance after

15

years of payments

(

ie after

180

months

) ?

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