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Charlotte buys a piece of real estate for $270,000. To fund this purchase, she takes out a 20-year loan for the full purchase price at

Charlotte buys a piece of real estate for $270,000. To fund this purchase, she takes out a 20-year loan for the full purchase price at an interest rate of 7% per year (EAR). What is the annual loan payment that Charlotte must make on this loan? A. $40,777,74 B. $25,486.09 C. $30,583.31 D. $35,680.53

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