Question: Ann obtains a fully amortizing 3 0 - year Fixed Rate Mortgage with monthly payments for $ 2 , 5 0 0 , 0 0

Ann obtains a fully amortizing 30-year Fixed Rate Mortgage with monthly payments for $2,500,000 at 9.25%. What will be Anns mortgage balance after 15 years of payments (ie after 180 months)?

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