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Question content area top Part 1 ( Related to Checkpoint 6 . 3 ) ( Determining the outstanding balance of a loan ) Ten years

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Part 1
(Related to Checkpoint6.3)(Determining the outstanding balance of a loan)Ten years ago you took out a $ 300 comma 000,25-year mortgage with an annual interest rate of 8 percent and monthly payments of $2 comma 315.45. What is the outstanding balance on your current loan if you just make the 120th payment?

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