Related to Checkpoint 6.3) (Determining the outstanding balance of a loan) Five years ago you took out a 5.300,000, 25 year mortgage with an annual interest rate of 7 percent and monthly payments of $2,120.34. What is the outstanding balance on your current loan if you just make the 60th payment? If you just make the 60th payment, the outstanding balance on your current loan is (Round to the nearest cent)