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The Taylors agreed to make monthly payments on a mortgage of $141,000 amortized over 15 years. Interest for the first three years was 10.5 percent
The Taylors agreed to make monthly payments on a mortgage of $141,000 amortized over 15 years. Interest for the first three years was 10.5 percent compounded semi-annually. 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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