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ents 8. Present Value of Annuities: Mortgages and Loans Value of Annuities: Mortgages and Loans Construct a Loan Amortization Schedule Question Consider the following monthly

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ents 8. Present Value of Annuities: Mortgages and Loans Value of Annuities: Mortgages and Loans Construct a Loan Amortization Schedule Question Consider the following monthly amortization schedule: Balance Debt Payment Payment Interest Payment # 259,873.20 626.80 1,167.34 540.54 1 259,245.10 628.10 539.24 2 1, 167.34 1,167.34 2 3 With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response. Provide your answer below

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