How large will your annual payments be

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Reference no: EM131563118

(Annuity payments) To buy a new house, you must borrow $175000 to do this, you take out a $175000 30-year,12 percent mortgage. Your mortgage payments, which are made at the end of each year (one payment each year), include both principal and 12 percent interest on the declining balance. How large will your annual payments be?

Round to nearest cent.

Reference no: EM131563118

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