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A fully amortizing mortgage is made for $ 9 0 , 0 0 0 for 2 5 years. Total monthly payments will be $ 1

A fully amortizing mortgage is made for $90,000 for 25 years. Total monthly payments will be $1,200 per month.
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What is the interest rate on the loan? (Round your final answer to 2 decimal places.)
Annual interest rate
%
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