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Corey buys 10 Tufflift 4-post, 4.5-ton car hoists for his parking garage at a total cost of $498,000. He finances this with a five-year loan

Corey buys 10 Tufflift 4-post, 4.5-ton car hoists for his parking garage at a total cost of

$498,000.

He finances this with a five-year loan at

7.2%

APR with monthly payments. After he has made the first 20 payments, how much is the outstanding principal balance on his loan?

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