George took out a mortgage for $40,000 at an annual interest rate of 12% compounded monthly for 25 years.
After making payments for 10 years, the balance on the loan most closely approximates
A. $24,000.
B. $35,170.
C. $0.
D. $35,790.
E. none of these
Answer: B
Mathematics
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A. - 
B. 
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