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Your family purchased a house three years ago. When you bought the house you financed it with a $160,000 mortgage with an 8.5 percent nominal
Your family purchased a house three years ago. When you bought the house you financed it with a $160,000 mortgage with an 8.5 percent nominal interest rate(compounded monthly). The mortgage was for 15 years (180 months). What is the remaining balance on your mortgage today?
Could someone solve this problem by excle or a financial calculator? I rarely use formulas.
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