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Six years ago, Ali Yilmaz borrowed TL300,000 to purchase a new home. The loan had an interest rate of 1.5% per month and a term
- Six years ago, Ali Yilmaz borrowed TL300,000 to purchase a new home. The loan had an interest rate of 1.5% per month and a term of 180 months (i.e., required 15 years of monthly payments with the first payment due one month after Bill closed on the loan). What is the current payoff amount on Alis loan (that is, immediately after the 72nd payment assuming that Ali has only made the required monthly payment every month)?
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