You bought a house 5 years ago. To finance thepurchase, you took out a mortgage for $300,000.
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Question:
You bought a house 5 years ago. To finance thepurchase, you took out a mortgage for $300,000. The interest rate on the mortgage is 8.8% and the amortization period is 30 years. You chose to make 24 payments per year and each payment is $1,166.50. Your last payment was yesterday. How much principal remains owingtoday?
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