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An individual borrowed $77,000 at an APR of 3%, which will be paid off with monthly payments of $462 for 18 years. Part 1 a.
An individual borrowed $77,000 at an APR of 3%, which will be paid off with monthly payments of $462 for 18 years. Part 1 a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $
, the annual interest rate is %, the number of payments per year is
, the loan term is
years, \
and the payment amount is $
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