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Laura has obtained a special 3 - year, $ 1 0 , 0 0 0 decreasing graduated payment mortgage from Nopay Bank. The three annual

Laura has obtained a special

3 -

year, $

10, 000

decreasing graduated payment mortgage

from Nopay Bank. The three annual payments will decrease by

20 %

each year. If the

interest rate for the mortgage is

10 %,

the balance of the mortgage after two payments is

nearest:

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