Monica has just borrowed $1,150,000 at 7.8% per annum to buy a house and pays quarterly payments. The full term is 30 years. What will be the outstanding loan balance at the end of 20 years if she does not hold the loan till maturity? Monica has just borrowed $1,150,000 at 7.8% per annum to buy a house and pays quarterly payments. The full term is 30 years. What will be the outstanding loan balance at the end of 20 years if she does not hold the loan till maturity?
a 8279
b 686495
c 24876
d 688308
e None of the choices