What is the principal balance on the loan

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Reference no: EM132021945

You take out a 20-year $300,000 mortgage loan with an APR of 12% and monthly payments.

In 10 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?

(Round the monthly loan payment to 2 decimal places when computing the answer. Round your answer to 2 decimal places.) Principal balance on the loan $

Reference no: EM132021945

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