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Dee has just sold her house for $ 900,000 in cash. her mortgage was originally a 30 -year mortgage with monthly payments and an initial
Dee has just sold her house for $ 900,000 in cash. her mortgage was originally a
30 -year mortgage with monthly payments and an initial balance of
$ 780,000. The mortgage is currently exactly
18.5 years old, and you have just made a payment. If the interest rate on the mortgage is
7.25 % (APR), how much cash will she have from the sale once you pay off the mortgage?
(Note: Be careful not to round any intermediate steps less than six decimal places.)
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