Question: Given the following information on a 28-year fixed-payment fully amortizing loan, determine the remaining balance that the borrower has at the end of nine years:

Given the following information on a 28-year fixed-payment fully amortizing loan,

Given the following information on a 28-year fixed-payment fully amortizing loan, determine the remaining balance that the borrower has at the end of nine years: interest rate: 5.8%; monthly payment: $1,300. Round your answer to two decimal places, and do not include the $ sign, e.g., 123456.54 . Your

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