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. Interest

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: $1200.

1. $17,143

2.$79,509.

3.$164,402

4. $180,369.

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