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TEST: Chapter 6
Score: 44/50 12/14 answered
Question 7
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Answer: $192855.49
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Progress saved Done 8 √0.
You want to take out a $344,000 mortgage (home loan). The interest rate on the loan is 5.7%, and
the loan is for 30 years. Your monthly payments are $1,996.58. How much will still be owed after
making payments for 20 years? Round your answ to the nearest dollar.
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