A family takes out a mortgage for 251 200 00 from the local bank The loan is for 30 years of monthly payments at a 5 88 APR

Question

A family takes out a mortgage for 251 200 00 from the local bank The loan is for 30 years of monthly payments at a 5 88 APR monthly compounding What will the family s balance be on the mortgage after 5 56 years Answer Format Currency Round to 2 decimal places

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