Question: Given the following information on a 30-year fixed-payment fully amortizing loan, determine the remaining balance that the borrower has at the end of seven years:

Given the following information on a 30-year fixed-payment fully amortizing loan,

Given the following information on a 30-year fixed-payment fully amortizing loan, determine the remaining balance that the borrower has at the end of seven years: interest rate: 7%; monthly payment: $1,200. $164.402 $79.509 $180,369 $17.143

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