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Business, 10.03.2020 01:57 isabella20142002

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

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