Question: Tom Smith has taken a 2 0 - year, $ 6 7 6 , 7 7 6 mortgage on his house at an interest rate

Tom Smith has taken a 20-year, $676,776 mortgage on his house at an interest rate of 6% per year. What is the value of the mortgage after the payment of the fifth annual instalment? Please write the answer in two decimal places.
Tom Smith has taken a 20-year, $676,776 mortgage on his house

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