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Part $1$

$($Related to Checkpoint$6\mathrm{.}3)($Determining the outstanding balance of a$$ loan$)$Ten years ago you took out a $ $300$ comma $000,25-$year mortgage with an annual interest rate of $8$ percent and monthly payments of $$$$2$ comma $315\mathrm{.}45.$ What is the outstanding balance on your current loan if you just make the $120$th $$payment$?$