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Danielle Baker (F382, Sp06) and her husband have just purchased their first home via a First Guaranty Bank foreclosure sale. The home will be financed

  1. Danielle Baker (F382, Sp06) and her husband have just purchased their first home via a First Guaranty Bank foreclosure sale. The home will be financed via a 15-year, 5.00% fixed rate loan. What amount has been borrowed if monthly, beginning-of-the-month payments of $650.00 are required to repay the loan?

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