Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment. If you get a 15-year mortgage with a 6 percent interest rate, what would the loan balance be in seven years?
A. $74,778.16
B. $79,091.72
C. $86,687.84
D. $84,223.16
Answer: C
Business
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