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Assume a 30-year, fully amortizing mortgage for $290,000 at a stated rate of 4.5% with 3 points at closing. What is the approximate loan balance

Assume a 30-year, fully amortizing mortgage for $290,000 at a stated rate of 4.5% with 3 points at closing. What is the approximate loan balance (or "payoff" amount) on this loan after 4 years?

Ch4 a. 287,260 b. 232,720 c. 269,957 d. 252,940

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