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The Taylors agreed to make monthly payments on a mortgage of 130,000 amortized over 25 years Interest for the first three years was 105 percent

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The Taylors agreed to make monthly payments on a mortgage of 130,000 amortized over 25 years Interest for the first three years was 105 percent compounded semiannually Determine the mortgage balance at the end of the three year term The mortgage balance at the end of the three year term is (Round to the nearest cent as needed)

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