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Posted on Sep 28, 2024

A fully amortizing mortgage is made for $ 8 3 , 5 0 0 for 2 5 years. Total monthly payments will be $ 1

A fully amortizing mortgage is made for $

83, 500

for

25

years. Total monthly payments will be $

1, 005

per month.

Required:

What is the interest rate on the loan

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