Question: A borrower prepays a $ 1 0 0 , 0 0 0 mortgage after 5 years instead of 3 0 years. The loan has a

A borrower prepays a $100,000 mortgage after 5 years instead of 30 years. The loan has a
6% nominal rate and a 3% loan fee. Find the remaining balance. Please work it out in Excel.

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