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You have a 25-year $400,000 mortgage with a 3.5% rate of interest (compounded monthly) that you make monthly payments on. What is the balance of

You have a 25-year $400,000 mortgage with a 3.5% rate of interest (compounded monthly) that you make monthly payments on. What is the balance of the loan at the end of year 20?

Question 14 options:

$120,077

$110,077

$100,077

$130,077

$90,077

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