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A borrower obtains a $ 3 0 0 , 0 0 0 reverse annuity mortgage with monthly payments over 5 years with a $ 5

A borrower obtains a $300,000 reverse annuity mortgage with monthly payments over 5
years with a $50,000 advance. If the interest rate of the mortgage loan is 7.5%, what is
the monthly payment received by the borrower? using finance calculator

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