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Thomas bought a yacht at a total cost of $328,000. He finances this with a five-year loan at 6.2% APR with monthly payments. After he
Thomas bought a yacht at a total cost of $328,000. He finances this with a five-year loan at 6.2% APR with monthly payments. After he has made the first 20 payments, how much is the outstanding principal balance on his loan?
Group of answer choices
A. $229,722
B. $302,290
C. $287,153
D. $150,970
E. $250,700
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