WHAT IS THE UNPAID BALANCE AT THE END OF 1O YEARS OF A 250,000 LOAN WITH A INTERESRT RATE OF 6% THAT COMPOUNDS MONTHLY?

To calculate the unpaid balance at the end of 10 years for a loan of $250,000 with an interest rate of 6% that compounds monthly, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A = the total amount including interest
P = the principal amount (initial loan)
r = the annual interest rate (in decimal form)
n = the number of times that interest is compounded per year
t = the number of years

In this case, the principal amount (P) is $250,000, the interest rate (r) is 6% or 0.06, the number of times interest is compounded per year (n) is 12 (monthly compounding), and the number of years (t) is 10.

Plugging in these values, we get:

A = $250,000 * (1 + 0.06/12)^(12*10)

Now we can calculate the value of A to find the total amount at the end of 10 years.