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Assume that you have a 15 year fully-amortized fixed rate mortgage for your home. Your loan amount is $300,000 with a 3% annual interest rate.

Assume that you have a 15 year fully-amortized fixed rate mortgage for your home. Your loan amount is $300,000 with a 3% annual interest rate. What is your loan balance after 12 years?


Assume that you have a 30 year fully-amortized fixed rate mortgage for your home. Your loan amount is $300,000 with a 3% annual interest rate. What is your loan balance after 12 years?


 Answers in question  which loan balance is bigger between a 15 years and 30 years mortgage?

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