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You borrow $450000 for your new house and your loan period is 15 years. Interest rate is 3% compounded monthly. What is the outstanding balance

You borrow $450000 for your new house and your loan period is 15 years. Interest rate is 3% compounded monthly. What is the outstanding balance after the third year?

Question 11 options:

$425878.72

$401023.76

$375412.82

$349022.90

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