You want to purchase a new warehouse to start a business. The warehouse is worth $$500,000.$ You can put a

down payment of $25\%$ of the value and borrow the rest. The mortgage is a $10-$year mortgage with annual

payments charging $6\%$ interest rate. For your first payment, you write a check of $$75,000$ to the bank. What is

your balance on this loan after your check clears?