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Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local savings and loan. The original balance of your mortgage was $160,000 and

Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local savings and loan. The original balance of your mortgage was $160,000 and was obtained five years ago with monthly payments at 10 percent interest. The loan was to be fully amortized over 30 years.

What is the balance of the original loan after five additional years (10 years from origination)?

please show your work in Excel.

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