Q5 CH6

You bought a condo

5

years ago. To finance the purchase, you took out a mortgage for

$650,000.

The interest rate on the mortgage is

6.9%

and the amortization period is

25

years. You chose to make

26

payments per year and each payment is

$2,079.59.

Your last payment was yesterday. How much principal remains owingtoday?

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Part 1

The principal that remains owing today is

$enter your response here.

(Round to the nearest cent as needed.)