Question $15(1$ point$)$

A couple is buying their dream house for $$589,675\mathrm{.}00.$ They will put $20\%$ down and

finance the rest with a $30-$year mortgage with monthly payments. The bank has

offered them a loan with an interest rate of $4\mathrm{.}96\%$ p$.$a$.,$ with monthly compounding.

If the couple makes every required payment on time, what will be the balance on

their loan $($i$.$e$.,$ the loan's payoff$)$ immediately after they make the ${110}^{th}$ payment.

None of the answers in this list is within $$10$ of the correct answer.

$383,259\mathrm{.}60$

$392,417\mathrm{.}55$

$285,789\mathrm{.}62$

$350,008\mathrm{.}83$

$411,832\mathrm{.}23$