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You have just sold your house for $ 1,100, 000 in cash. Your mortgage was originally...

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Finance

You have just sold your house for $ 1,100, 000 in cash. Yourmortgage was originally a​ 30-year mortgage with monthly paymentsand an initial balance of $ 800,000. The mortgage is currentlyexactly​ 18½ years​ old, and you have just made a payment. If theinterest rate on the mortgage is 7.75 % ​(APR), how much cash willyou have from the sale once you pay off the​ mortgage? ​(Note: Becareful not to round any intermediate steps less than six decimal​places.)

Cash that remains after payoff of mortgage is ​[...]? Round tothe nearest dollar.

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