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Eighteen years ago, John Bravo borrowed $525,000 to buy a house in California. The interest rate on his 30 year, monthly payment loan, was 6.375%
Eighteen years ago, John Bravo borrowed $525,000 to buy a house in California. The interest rate on his 30 year, monthly payment loan, was 6.375% p.a. Assuming that John made all of his required monthly payments on time, what is the payoff on his loan immediately after he made his most recent payment (i.e., payment number 216)?
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