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Explain on excel spread sheet...Your local bank has offered you a mortgage of 1 0 0 , 0 0 0 ) . The mortgage is

Explain on excel spread sheet...Your local bank has offered you a mortgage of

100, 000) .

The mortgage is to be paid back over

10

years in annual payments, and the bank charges

12 %

annual interest. Calculate the annual mortgage payments What is the mortgage EAIR?

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