(1 point) Jeremy takes out a 30-year mortgage of $260000 with a nominal interest rate of 6.25 %…

(1 point) Jeremy takes out a 30-year mortgage of $260000 with a nominal interest rate of 6.25 % compounded monthly, with the first payment due in one month. Use the 'prospective method' to calculate how much he owes on the loan immediately after the 87th payment? 

 

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