Question: SHOW YOUR WORK! NO WORK SHOW IS ZERO POINT EVEN IF THE FINAL ANSWER IS CORRECT! Chapter 3 and 4 Time Value of Money Question

SHOW YOUR WORK! NO WORK SHOW IS ZERO POINT EVEN IF THE FINAL ANSWER IS CORRECT! Chapter 3 and 4 Time Value of Money Question 1. (10 points) You've just bought your first house! To finance the purchase you're borrowed a mortgage loan at the following terms: monthly payments = $5,143.06, interest rate = 12% per year, term - 30 years. What is the loan amount as of today? (Hint: the loan is an annuity!)

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