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(1 point) (Exercise 5.5) A $50000 mortgage is being repaid with 20 annual installments at the end of each year with an effective annual interest
(1 point) (Exercise 5.5) A $50000 mortgage is being repaid with 20 annual installments at the end of each year with an effective annual interest rate i=0.07. The borrower makes 8 payments and then is temporarily unable to make payments for the next 3 years. Find the revised payment to start at the end of the 12 th year if the loan is still to be repaid at the end of the original 20 years. ANSWER =$
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