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Consider a fixed rate constant payment 6-year mortgage with annual payments. The interest rate is 8.5% per annum and the principal (or loan) amount is

Consider a fixed rate constant payment 6-year mortgage with annual payments. The interest rate is 8.5% per annum and the principal (or loan) amount is $7575. What is the annual payment to amortise the loan? (Answer in 4 decimal places)

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