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What is the loan balance after 10 years on a conventional fixed-rate 7% mortgage with the original maturity of 15 years and initial balance of
What is the loan balance after 10 years on a conventional fixed-rate 7% mortgage with the original maturity of 15 years and initial balance of $200,000? Assume only required monthly payments have been made.
- A. $92,721
- B. $193,522
- C. $85,492
- D. $90,785
- E. $83,581
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