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You are considering purchasing a new home. You will need to borrow $ 3 5 0 , 0 0 0 to purchase the home. A

You are considering purchasing a new home. You will need to borrow $350,000 to purchase the home. A mortgage company offers you a 15-year fixed-rate mortgage (180 month) at 8% APR. After having paid on this mortgage for 8 years, you decide to sell your home. The sale price is expected to be $450,000. How much net cash will you receive once you pay off the remainder of the mortgage?

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