Answer Happy

As you launch your professional career you've decided to purchase a new home for $197,000.00. You've been working hard to save enough funds to make a 20% down payment. You are going to use a 30-year loan that requires monthly payments and uses monthly compounding. You've shopped around for mortgage rates and have agreed to a loan with an annual interest rate of 2.9% Your career is progressing well, and you've been offered an exciting opportunity in a different office. You sell your current home exactly 8 years after purchasing it, and need to know how much you still owe on the loan, Assume that you've made only the required payments to this point. What is the outstanding loan balance you will have to repay as you sell your current home? (answer in dollars, rounded to the nearest penny. For example, if your answer is $123,456.78 you should enter 123456.78) Type your answer...