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(Related to Checkpoint 6.3) (Determining the outstanding balance of a loan) Eight years ago you...

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Accounting

image (Related to Checkpoint 6.3) (Determining the outstanding balance of a loan) Eight years ago you took out a $200,000, 30 -year mortgage with an annual interest rate of 9 percent and monthly payments of $1,609.25. What is the outstanding balance on your current loan if you just make the 96 th payment? If you just make the 96th payment, the outstanding balance on your current loan is $ (Round to the nearest cent.)

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