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Problem 37.8 The interest rate on a 30 year mortgage is 12% compounded monthly. Lauren is...

Problem 37.8 The interest rate on a 30 year mortgage is 12% compounded monthly. Lauren is repaying the mortgage by paying monthly payments of 700. Additionally, to pay o the loan early, Lauren has made additional payments of 1,000 at the end of each year. Calculate the outstanding balance at the end of 10 years. Answer should be: $45,435.32

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