You just bought a $329,000 house! You financed the entire purchase with a 30 year loan. The interest rate on the loan is 7.5% per year, compounded monthly, and you make monthly payments. If you sell the house 15 years from today, what payoff amount will be due on the loan? (The instant after you make the 180th payment on the loan 15 years from today.)

Ans: $248,153.73

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