A couple purchases a house for $400,000. They pay 20% down at closing, and take out a mortgage of $320,000. The mortgage company offers them a 4.80%...

A couple purchases a house for $400,000.00. They pay 20% down at closing, and take out a mortgage of $320,000.00. The mortgage company offers them a 4.80% annual rate with monthly compounding. The mortgage will require monthly payments for the next 30 years. What will be the balance remaining on this mortgage after five years?