A mortgage at 2.8% interest compounded monthly with a monthly payment of $500 has an unpaid balance of $5035.56 after 109 months. Find the unpaid balance after 110 months.
A. $425
B. $4547.31
C. $4575.82
D. $4550
E. none of these
Answer: B
Mathematics
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What will be an ideal response?
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