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Dr. Zcginghr bought a house for $160,000 and paid downpayment of $25,000. He will be paying the rest of the payments over the next 25
Dr. Zcginghr bought a house for $160,000 and paid downpayment of $25,000. He will be paying the rest of the payments over the next 25 years in 25 equal end-of-year payments, with a compound interest rate of 6 percent. How much equal payments per year should he pay? The equal payments will be $ . (Round to the nearest cent.)
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