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suppose you obtain a 30-year annuity mortgage of $329000 that you pay for in monthly installments at a quoted yearly rate of 7.5 per cent.

suppose you obtain a 30-year annuity mortgage of $329000 that you pay for in monthly installments at a quoted yearly rate of 7.5 per cent. what will your loan balance be at the end of the first 15 years of monthly payments?

The answer must be $248,153.73. But how do you calculate this?

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