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A mortgage company offers you a 25 year fixed rate mortgage, at an annual interest rate of 10%. You have to make an annual payment
A mortgage company offers you a 25 year fixed rate mortgage, at an annual interest rate of 10%. You have to make an annual payment of $2000. if you borrow the money from this mortgage company today, the remaining balance after making your annual payments at the end of the 5th year is
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