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Bob takes out a 4 year mortgage for $ 1 , 0 2 5 , 0 0 0 at an interest rate of i (

Bob takes out a 4 year mortgage for $1,025,000 at an interest rate of i(26)=5.750%. The amortization period is 20 years and he will make weekly payments. After 3 years the rate changes to i(26)=4.875%. What is the outstanding balance at the end of the term (4 years) of the mortgage (taking into account the change in rates!)?

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