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Axl will be borrowing $200,000 today to buy a house, and he will pay it back with 30 yearly payments starting one year from today.
Axl will be borrowing $200,000 today to buy a house, and he will pay it back with 30 yearly payments starting one year from today. If the effective annual interest rate is 13%, how much will the final payment be if the annual payments are constant?
Select one:
a.
$27,000
b.
$6,700
c.
$20,000
d.
$33,000
e.
$7,500
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