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Loan Amortization. You have applied for a home mortgage of $75,000 to finance the purchase of a new home for 30 years. The bank requires

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Loan Amortization. You have applied for a home mortgage of $75,000 to finance the purchase of a new home for 30 years. The bank requires a 14 percent interest rate. What will be the annual payment? 11 .16 Annual Rate of Interest. You borrowed $20,000, to be repaid in 12 monthly installmente $1,891.20. What is the annual interest rate

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