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Question For a $ 2 0 0 , 0 0 0 mortgage, with an interest rate of 4 % paid over 2 0 years, the

Question

For a $

200, 000

mortgage, with an interest rate of

4 %

paid over

20

years, the monthly payment is $

1, 211.96 .

After

2

monthly payments, what is the balance of the loan? Give your answer to the nearest dollar.

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