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Tom and Wendy bought a home 1 5 years ago. They secured a 2 5 - year fixed - rate mortgage loan for $ 3

Tom and Wendy bought a home

15

years ago. They secured a

25 -

year fixed

-

rate mortgage loan for $

325, 000 (

after their down payment

)

5.125 % .

They have asked you to calculate the amount of principal balance remaining today.

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