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Given the following information on a 30-year fixed-payment fully amortizing loan, determine the remaining balance that the borrower has at the end of ten years:

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Given the following information on a 30-year fixed-payment fully amortizing loan, determine the remaining balance that the borrower has at the end of ten years: interest rate: 4%; monthly payment: $1,200. Assume the monthly payment is made at the end of each month. (Multiple Choice) $251,353.49 $16,308.39 $29,997.55 $198,026.23

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