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A home buyer signed a 20-year, 8% mortgage for $72,500. Given the following information, how much should the annual loan payments be? Present value of
A home buyer signed a 20-year, 8% mortgage for $72,500. Given the following information, how much should the annual loan payments be? Present value of $1 PVIF= .215 Future value of $1 FVIF= 4.661 Present value of annuity PVIFA= 9.818 Future value of annuity FVIFA= 45.762
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