Answer : $202,559.23

Working notes for the above answer

We need to calculate the remaining balance on a $225,000.00 mortgage after 90 months

we will calculate the remaining balance as under

initial amount is $225,000.00 mortgage

standard mortgage (360 months)

nominal rate (monthly compounding) of 6.80%.

we put all this figure in to the formulla as under

Balance= L[1−(1+r)p−n] / 1−(1+r)−n

=225,00[1−(1+0.068/ 12 )90−360 / 1−(1+0.068/ 12)−360

   = $202,559.23

Solving this equation we will aririved figure of $202,559.23

remaining balance on a $225,000.00 mortgage after 90 months = $ 202,559.23