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In order to buy a house, someone is going to borrow $200,000 today with a 3.25 percent nominal annual rate of interest. He is going
In order to buy a house, someone is going to borrow $200,000 today with a 3.25 percent nominal annual rate of interest. He is going to make monthly payments over 30 years. Assume full amortization of the loan. If he pays an extra $400 toward principal each month, what will be the ending balance after two monthly payments? (Round to the nearest cent)
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