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9. Jonathan Dotson wants to borrow $50,000 to buy a house. If he paid equal annual installments for 30 years and 12 percent interest on

9. Jonathan Dotson wants to borrow $50,000 to buy a house. If he paid equal annual installments for 30 years and 12 percent interest on the outstanding balance, what would be the amount of his annual payment? [1 point)

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