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Consider the following fixed-rate mortgage: Maturity = 360 months Amount borrowed = $300,000 Annual mortgage rate = 3.5% Without constructing an amortization schedule, what is

Consider the following fixed-rate mortgage:

Maturity = 360 months

Amount borrowed = $300,000

Annual mortgage rate = 3.5%

Without constructing an amortization schedule, what is the mortgage balance at the end of month 120 assuming no prepayments? NOTICE: For this problem, round everything (calculations and final answers) to 2 decimal places.

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