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Adam wants to borrow $500,000 from a bank for a mortgage loan. The interest rate on the loan is 6% and the term of the

Adam wants to borrow $500,000 from a bank for a mortgage loan. The interest rate on the loan is 6% and the term of the loan is 30 years. What is his annual payment?

Group of answer choices

$27,544.19

$32,175.13

$36,324.46

$41,834.81

$22,741.49

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