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7.Find the effective annual rate (EAR) for 25 % compounded weekly (52). 7A. If you borrow 180,000 FOR 30 YEARS to buy a home with

7.Find the effective annual rate (EAR) for 25 % compounded weekly (52).

7A. If you borrow 180,000 FOR 30 YEARS to buy a home with an annual rate of 8.24%. What is your MONTHLY mortgage payment? Assume the loan is an ordinary annuity.

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