Question: You borrowed $500,000 using a 25-year, fully amortizing, constant amortizing loan. The interest rate is 5.5 % p.a. compounded monthly. The loan balance after you

You borrowed $500,000 using a 25-year, fully amortizing, constant amortizing loan. The interest rate is 5.5 % p.a. compounded monthly. The loan balance after you submit the 111-th monthly payment equals $ ____.

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