Multiple Choice
John House has taken a 20-year, $250,000 mortgage on his house at an interest rate of 6 percent per year. What is the remaining balance (or value) of the mortgage after the payment of the fifth annual installment?
A) $128,958.41
B) $211,689.53
C) $141,019.50
D) $248,719.21
Correct Answer:
Verified
Correct Answer:
Verified
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