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You want to buy a house that costs $450,000. You make a 10% down payment and finance the rest with a 30-year mortgage. The mortgage

You want to buy a house that costs $450,000. You make a 10% down payment and finance the rest with a 30-year mortgage. The mortgage has a five year renewal term for which the annual mortgage rate is 5.20% (APR compounded semi-annually).

What will the remaining principal of the loan be at the end of the 5-year term if you are making monthly payments?

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