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financial management

You have just sold your house for

in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of

.

The mortgage is currently exactly 18½ years old, and you have just made a payment. If the interest rate on the mortgage is

(APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.)


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