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What will be the balance of your 30-year mortgage after 8 years if you borrowed $1,577,000 at a 4.20% posted interest rate? (Assume APR compounded
What will be the balance of your 30-year mortgage after 8 years if you borrowed $1,577,000 at a 4.20% posted interest rate? (Assume APR compounded semiannually and monthly payments)
a.
$1,156,467
b.
$1,326,128
c.
$940,217
d.
$1,234,952
e.
$1,631,137
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