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Assume Cousin Chris obtained $ 1 0 0 , 0 0 0 ten years ago by borrowing on a twenty - year equity line of

Assume Cousin Chris obtained $

100, 000

ten years ago by borrowing on a twenty

-

year equity line of credit mortgage loan with a

9 %

stated annual percentage interest rate that requires monthly payments. He has made all payments on time so far.

How much does Cousin Chris still owe on this loan?

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