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You have taken out a standard $250,000, 30-year mortgage, at a nominal annual rate of 5.10 percent, with monthly compounding. Determine how much you will
You have taken out a standard $250,000, 30-year mortgage, at a nominal annual rate of 5.10 percent, with monthly compounding. Determine how much you will still owe on your mortgage, as a percent of the original $250,000, after 15 years (180 payments) if you only make the required monthly payment. 66.23% 68.21% 66.90% 65.56% 67.56%
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