The Taylors agreed to make monthly payments on a mortgage of $131,000 amortized over 15...
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Accounting
The Taylors agreed to make monthly payments on a mortgage of $131,000 amortized over 15 years. Interest for the first 3 years was 6.5 compounded semi-annually. Determine the mortgage balance at the end of the 3-year term.
A. $131,712.23
B. $113,791.09
C. $131,074.55
D. $113,371.52
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