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a Your brother-in-law asks you to lend him $150000.00 as a second mortgage on his vacation home. He promises to make level monthly payments for

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a Your brother-in-law asks you to lend him $150000.00 as a second mortgage on his vacation home. He promises to make level monthly payments for 10 years, 120 payments in all. You decide that a fair interest rate is 6.00% compounded annually. What should the monthly payment be on the $150000.00 loan? $1250.00 $1698.35 $1665.31 $1626.11 $1325.00

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