NOTE: Include two decimal places in your input answers $($e$.$g$.1000\mathrm{.}2291$ should be input as $1000\mathrm{.}23),$ but do not include dollar signs or commas in your answers.

Using the "Mortgage Financing" information in question #$21,$ but assuming the following: the loan is $$220,000,000,$ the annual payment is $$16,002,944\mathrm{.}00,$ and the interest rate is $5\mathrm{.}250\%$ on an annual basis, CC wants to know what the loan balance would be at the end of $10$ years. Write down the correct inputs you would give CC to use in the blank spaces provided to calculate the loan balance if the loan payments were made annually.

Function Arguments

$?$

x

PV

Rate

$=$ numbls

Nper

$=$ number

Pmt

$=$ number

Fv

$0$

$0$

Type

$0$

$=0$

$=0$

Returns the present value of an investment: the total amount that a series of future payments is worth now.

Type is a logical value: payment at the beginning of the period $=1$; payment at the

end of the period $=0$ or omitted.

Formula result $=0$

Rate

$2.$ Nper

$3.$ Pmt