What will be the remaining balance on the mortgage

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Question - The Hruby Family recently entered into a 30-year mortgage for $300,000. The mortgage has an 8 percent APR. Interest is compounded monthly, and all payments are due at the end of the month. What will be the remaining balance on the mortgage after five years?

a. $14,790.43

b. $285,209.57

c. $300,000.00

d. more information is required.

Reference no: EM132574792

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