What is the remaining balance that must be paid off

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An firm borrowed $169,000 to remodel their office. The load was to be paid back in equal monthly payments over 30 years at 4% interest, compounded monthly. After 16 years, the firm wants to pay off the loan. What is the remaining balance that must be paid off? Express your answer in $ to the nearest $1,000.

Reference no: EM131009596

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