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Ten years ago Mr. Brewer borrowed $185,000 to buy a home. The loan carries a rate of 4% per year and is amortized over 30
Ten years ago Mr. Brewer borrowed $185,000 to buy a home. The loan carries a rate of 4% per year and is amortized over 30 years (360 months). What is the loan balance today?
A. $145,750
B. $142,397
C. $87,236
D. $86,775
E. $21,880
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