Multiple Choice
A borrower has a 30-year mortgage loan for $200,000 with an interest rate of 6% and monthly payments. If she wants to pay off the loan after 8 years, what would be the outstanding balance on the loan?
A) $84,886
B) $91,246
C) $146,667
D) $175,545
E) Not enough information
Correct Answer:
Verified
Correct Answer:
Verified
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