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Frank purchased his house 9 years ago by taking out a 15-year mortgage for $200,000. The mortgage has a fixed interest rate of 8 percent

Frank purchased his house 9 years ago by taking out a 15-year mortgage for $200,000. The mortgage has a fixed interest rate of 8 percent compounded quarterly. If he wants to pay off his mortgage today, how much money does he need? He made his most recent mortgage payment earlier today.

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