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You plan to borrow $350,000 at a 7.5% annual interest rate. The terms require you to amortize the loan with equal end-of-month payments for 15

You plan to borrow $350,000 at a 7.5% annual interest rate. The terms require you to amortize the loan with equal end-of-month payments for 15 years (180 months). By how much would you reduce the amount you owe in the 127th month?

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