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What will be your annual payment if you sign this mortgage

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Question - You are thinking of purchasing a house. The house costs $250,000. You have $36,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 9% per year. What will be your annual payment if you sign this mortgage?

Reference no: EM132936856

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