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Question 1 0 3 pts Given the following information on fixed - payment fully - amortizing loan, determine the remaining balance that the borrower has

Question $10$

$3$ pts

Given the following information on fixed $-$ payment fully $-$ amortizing loan, determine the remaining balance that the borrower has at the end of $11$ years.

Loan term: $24$

Monthly Payment: $1, 023$

Interest Rate: $4 %$ compounded monthly

Balloon payment $/$ remaining mortgage balance $($ RMB $)$ in $11$ years

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