Multiple Choice
Given the following information on a 30-year fixed-payment fully-amortizing loan, determine the remaining balance that the borrower has at the end of seven years. Interest Rate: 7%, Monthly Payment: $1,200.
A) $17,143
B) $79,509
C) $164,402
D) $180,369
Correct Answer:
Verified
Correct Answer:
Verified
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