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Pregunta 11 1 pts John House has taken a $150,000 mortgage on his house at an interest rate of 6% per year. If the mortgage c

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Answer #1

Present value of annuity=Annuity[1-(1+interest rate)^-time period]/rate

150,000=Annuity[1-(1.06)^-30]/0.06

150,000=Annuity*13.7648312

Annuity=150,000/13.7648312

=$10897.34(Approx).

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