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Determine the outstanding principal of the given mortgage. ( Assume monthly interest payments and compounding periods. ) HINT [ See Example 7 . ] (

Determine the outstanding principal of the given mortgage.

(

Assume monthly interest payments and compounding periods.

)

HINT

[

See Example

7 .] (

Round your answer to the nearest cent.

)

A $

450, 000, 25 -

year,

6.2 %

mortgage after

20

years

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