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Assume we have a PLAM for a $450,000 mortgage with a 30-year term and monthly payments. The real loan rate is 4%, with inflation rates

Assume we have a PLAM for a $450,000 mortgage with a 30-year term and monthly payments. The real loan rate is 4%, with inflation rates of 6%, 5%, and 4% for years 1, 2, and 3, respectively. The inflation adjustments to the loan balance are assumed to be made annually. What is the mortgage balance at the end of the month 43rd

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