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Tom just sold his house for $ 900,000 in cash. His mortgage was originally a 30 -year mortgage with monthly payments and an initial balance
Tom just sold his house for
$ 900,000 in cash. His mortgage was originally a 30
-year mortgage with monthly payments and an initial balance of $ 740,000. The mortgage is currently exactly
18.5 years old, and he has just made a payment. If the interest rate on the mortgage is
5.50 % (APR), how much cash will he have from the sale once you pay off the mortgage?
(Note: Be careful not to round any intermediate steps less than six decimal places.)
Show every detail pls
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