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You borrow $225,000 to purchase a home. Your mortgage requires monthly payments over the next 27 years, with the first payment due one month from

image text in transcribed You borrow $225,000 to purchase a home. Your mortgage requires monthly payments over the next 27 years, with the first payment due one month from today. The annualized interest rate for the loan is 4.4%. What will be your remaining loan balance immediately following payment \#32? Hint: you do not need to create an amortization schedule to answer this question. Do not round intermediate steps. Enter your answer as a positive number, and round to the nearest penny. Correct Answer: 212,702.57

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