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You bought a condo 3 years ago. To finance the purchase, you took out a mortgage for $400,000. The interest rate on the mortgage is

You bought a condo 3 years ago. To finance the purchase, you took out a mortgage for

$400,000. The interest rate on the mortgage is 9% and the amortization period is 20

years. You chose to make 24

payments per year and each payment is $1,775.12.

Your last payment was yesterday. How much principal remains owing today?

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Part 1

The principal that remains owing today is

$enter your response here.

(Round to the nearest cent as needed.)

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