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The interest rate for the first five years of a $ 9 3 , 0 0 0 mortgage loan is 5 . 2 5 %

The interest rate for the first five years of a $

93, 000

mortgage loan is

5.25 %

compounded semiannually. Monthly payments are calculated using a

20 -

year amortization. What will be the principal balance at the end of the five

-

year term?

(

Round your answer to thePrincipal balanc

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