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(Loan amortization) To buy a new house, you must borrow $135,000. To do this, you take out a $135,000,25year,9 percent mortgage. Your mortgage payments, which

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(Loan amortization) To buy a new house, you must borrow $135,000. To do this, you take out a $135,000,25year,9 percent mortgage. Your mortgage payments, which are made at the end of each year (one payment each year), include both principal and 9 percent interest on the declining balance. How large will your annual payments be? The amount of your annual payments will be $ (Round to the nearest cent.)

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