Essay
You borrow $100,000 to buy a house; if the annual interest rate is 6% and the term of the loan is 20 years, what is the annual payment required to retire the mortgage loan?
Correct Answer:
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X = $100,000/11.470 = $8,718.4...View Answer
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Correct Answer:
Verified
X = $100,000/11.470 = $8,718.4...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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