A homeowner takes out a 15-year mortgage in the amount of $400,000, fully amortized, monthly compounded, monthly payable, with an interest rate of 4.8% p.a. What is the remaining balance of the mortgage after 8 years (i.e., after the 96th payment)?

A homeowner takes out a 15-year mortgage in the amount of $400,000, fully amortized, monthly compounded, monthly payable, with an interest rate of 4.8% p.a. What is the remaining balance of the mortgage after 8 years (i.e., after the 96th payment)?

A homeowner takes out a 15-year mortgage in the amount of $400,000, fully amortized, monthly compounded, monthly payable, with an interest rate of 4.8% p.a. What is the remaining balance of the mortgage after 8 years (i.e., after the 96th payment)?