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You bought a house for $420,000 with a 29 year bank loan that has monthly payments at an interest rate of 6% (APR). Immediately after
You bought a house for $420,000 with a 29 year bank loan that has monthly payments at an interest rate of 6% (APR). Immediately after year 6 (23 years left on the loan), you will resell the house for $504,000 and completely pay off the rest of the loan. How much do you have to pay the bank to completely pay off the loan?
Group of answer choices
$338,015.73
$380,216.71
$457,399.42
$381,166.19
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