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Jerry wanted to take a mortgage loan to buy a house. The loan has an annual interet rate of 6 % and requires the borrower

Jerry wanted to take a mortgage loan to buy a house. The loan has an annual interet rate of6% and requires the borrower to make an equal amount of annual payment for 30 years. If Jerry can manage to pay $20,000 each year for the loan, how much of a loan Jerry can take?

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