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A borrower has a 30-year mortgage loan for $200,000 with an interest rate of 6%...

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Question

Finance

A borrower has a 30-year mortgage loan for $200,000 with an interest rate of 6% and monthly payments. If she wants to pay off the loan after 8 years, what would be the outstanding balance on the loan?
Group of answer choices
$91,246
$84,886
$146,667
$175,545

Answer & Explanation Solved by verified expert
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