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Interest - only mortgage with monthly payments and loan amount: $ 5 6 , 0 0 0 ; Term: 1 5 years; Annual interest rate:

Interest-only mortgage with monthly payments and loan amount: $56,000; Term: 15 years; Annual interest rate: 7.5%
What is the outstanding balance at the end of 5 years (60 months)?
$350
$56,000
$56,350
None of the above
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