Question: Use the following information to answer questions # 8 - # 1 0 . Today, you borrow $ 4 3 5 , 0 0 0

Use the following information to answer questions #8- #10.Today, you borrow $435,000 to buy a new house. The bank charges you 6.5 percent, compounded monthly and demands that the loan be fully repaid in 15 years with monthly payments. What is the remaining loan balance at the end of the first month?

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