Question: Given the following information on fixed - payment fully - amortizing loan, determine the remaining balance that the borrower has at the end of 7

Given the following information on fixed-payment fully-amortizing loan, determine the remaining balance that the borrower has at the end of 7 years.
Loan term: 35
Monthly Payment: 1,206
Interest Rate: 7% compounded monthly
Balloon payment/remaining mortgage balance (RMB) in 7 years
Given the following information on fixed-payment fully-amortizing loan, determine the remaining

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