Question: ( Related to Checkpoint 6 . 3 ) ( Determining the outstanding balance of a loan ) Nine years ago you took out a $

(Related to Checkpoint 6.3)(Determining the outstanding balance of a loan) Nine years ago you took out a $250,000,20-year mortgage with an annual interest rate of 7 percent and monthly payments of $1,938.25. What is the outstanding balance on your current loan if you just make the 108th payment?
If you just make the 108th payment, the outstanding balance on your current loan is $ (Round to the nearest cent.)
 (Related to Checkpoint 6.3)(Determining the outstanding balance of a loan) Nine

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