Question: 1) Smith obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $450,000 at 4.25%. What will be Smiths mortgage balance after

1) Smith obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $450,000 at 4.25%. What will be Smiths mortgage balance after 20 years of payments (i.e. after 240 months)?

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