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After satisfying their Superannuation questions, you move the conversation back to their intended home loan.
The fully amortising home loan Bob and Jill were discussing was for 80% of a $1 mil house, at 4% interest p.a., paid monthly over 30 years. The monthly payments were solved as $3,819.32.
Jill chimes in ...
"After 5 years, I may consider making some changes to the terms of the loan. What is the mortgage balance remaining?"
Enter your answer without $ and to 2 decimal places.
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