The Hruby Family recently entered into a 30-year mortgage for $300,000. The mortgage has an 8 percent
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Question:
The Hruby Family recently entered into a 30-year mortgage for $300,000. The mortgage has an 8 percent APR.Interest is compounded monthly, and all payments are due at the end of the month. What will be the remaining balance on the mortgage after five years?
$14,790.43
$285,209.57
$300,000.00
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