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A home buyer signed a 20-year, 8% mortgage for $72,500. Given the following information, how much should the annual loan paym
The shorter the length of time between a present value and its corresponding future value, Select one: A, the lower the prese
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Answer #1

Loan ÷ [(1-(1/(1+r^ n)))/r] 72,500+[((1-(1/(1.08^20)))/0.08] $7,384 Annual payment- pmt = = -

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