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Jill negotiates a $65,000 mortgage on a house with monthly payments of $500 for the first year, $600 for the second year, and $700 until
Jill negotiates a $65,000 mortgage on a house with monthly payments of $500 for the first year, $600 for the second year, and $700 until the final payment. The first payment is due one month after the loan. The annual interest rate is 12% convertible monthly. Find the outstanding balance to the nearest $500 on Jills mortgage immediately after the 36th payment.
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