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Jack and Jill borrow $16,000 at 6.5% amoritzed over 6 years to drill a well and renovate their kitchen and bathrooms. Assuming that the monthly

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Jack and Jill borrow $16,000 at 6.5% amoritzed over 6 years to drill a well and renovate their kitchen and bathrooms. Assuming that the monthly principal and interest payments are made as agreed, what is the loan balance at the end of 2 years? (Round to nearest penny and enter, for example, as 123456.78)

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