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Assume a 30 year fixed rate, fully amortizing mortgage for $280,000 at a stated rate of 5% with monthly payments (no fees, points or escrows).

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Assume a 30 year fixed rate, fully amortizing mortgage for $280,000 at a stated rate of 5% with monthly payments (no fees, points or escrows). What is the loan balance (or "payoff" amount) - after 4 years? Ch4 a. 262,164 b. 230,530 c. 243,438 d. 190,949

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