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Sarah secured a bank loan of $180,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. She plans to sell her house in 5 years. How much will Sarah still owe on her house? (Round your answer to the nearest cent.)

$ ____________

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Financial Management, Finance

Category:- Financial Management
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