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This morning, you borrowed $335,000 to buy a house. The mortgage rate is 4.00 percent (APR). The loan is to be repaid in equal monthly

This morning, you borrowed $335,000 to buy a house. The mortgage rate is 4.00 percent (APR). The loan is to be repaid in equal monthly payments over 30 years with the first payment due one month from today. Assume each month is equal to 1/12 of a year and all taxes and insurance premiums are paid separately. What is the loan balance remaining after the first year of the loan (i.e. after making 12 payments)?

A) 330,100.21

B) 329,601.20

C) 329,100.53

D) 328,598.19

E) 328,094.17

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