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(Determining the outstanding balance of a loan) Ten years ago you took out a $300,000, 20-year mortgage with an annual interest rate of 11

(Determining the outstanding balance of a loan) Ten years ago you took out a $300,000, 20-year mortgage with an annual interest rate of 11 percent and monthly payments of $3,096.57. What is the outstanding balance on your current loan if you just make the 120th payment? If you just make the 120th payment, the outstanding balance on your current loan is $. (Round to the nearest cent.)

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