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Find the balance after fifteen years right after payment

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Reference no: EM132841235

Problem 1: David bought a house of 250000. A bank agreed to lend the money to David with a 30 year loan. David was expected to repay the loan with monthly payments with a nominal rate of 6.5% compounded monthly. Find the balance after 15 years right after his 180th payment.

Reference no: EM132841235

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