Rob wants to buy a $700,000 loft. He intends to put a $250,000 down-payment and take a 30-year amortized mortgage on the rest. He will choose a 5-year fixed term with monthly payments. The current rate is 3% compounded quarterly. What will he still owe when the 5-year term is over? (I used the remaining payments method in my solution)

Question 5 options:

	399-401k
	401-403k
	403-405k
	405-407k
	None of the above