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You have just sold your house for $ 1,100,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $ 750,000. The mortgage is currently exactly 18½ years old, and you have just made a payment. If the interest rate on the mortgage is 7.75 % (APR), how much cash will you have from the sale once you pay off the mortgage?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92880942

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