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The Taylors agreed to make monthly payments on a mortgage of $140,000 amortized over 20 yrs. Interest for the first three yrs was 8 percent

The Taylors agreed to make monthly payments on a mortgage of $140,000 amortized over 20 yrs. Interest for the first three yrs was 8 percent compounded semi-annually. Determine the mortgage balance at the end of the three-yr term.

The mortgage balance at the end of the three-yr term is $______ (round to the nearest cent as needed)

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