Question: I need help solving this problem You bought your house 5 years and 4 months ago. To finance the purchase, you took out a 15-year

I need help solving this problem

You bought your house 5 years and 4 months ago. To finance the purchase, you took out a 15-year fixed-rate mortage to borrow $500,000 at an interest rate of 9.6% (APR). You just made a mortgage payment and now want to refinance the mortgage. Part 1 (*) Attempt 1/10 for 10 pts. How much do you owe on your existing mortgage

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