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Your friend took a $50,000 loan. The loan is a 15-year, 5% interest-only loan (paying interest in the loan period and the principal in one

Your friend took a $50,000 loan. The loan is a 15-year, 5% interest-only loan (paying interest in the loan period and the principal in one installment at the end.

Question: What is the outstanding balance of the loan after 7 years?

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