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John House has taken a $250,000 mortgage on his house at an interest rate of 6% per year. If the mortgage calls for 20 equal,

John House has taken a $250,000 mortgage on his house at an interest rate of 6% per year. If the mortgage calls for 20 equal, what proportion of his 17th yearly payment will be wasted on interest?

a. 6.88%

b. 8.00%

c. 16.04%

d. 19.12%

Please show formulas in excel selecting "show formulas"

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