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Desmond just sold the home he has lived in for the past 15 years. He bought it with a $329,000 loan on a 30-year fixed

Desmond just sold the home he has lived in for the past 15 years. He bought it with a $329,000 loan on a 30-year fixed rate of 3.75%. He sells the house on the 14th of June for $449,900. As part of the sale, the remainder of the loan is assigned to the new owner. At closing, his prorated and negotiated share of closing costs comes to $1,283. 


If the amortization factor of the assigned loan is .004631, how much money should Desmond expect to receive at closing?

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