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PLZ show work on a calculator, Excel, and formula (Annuity payments) To buy a new house, you must borrow $175,000. To do this, you take

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PLZ show work on a calculator, Excel, and formula

(Annuity payments) To buy a new house, you must borrow $175,000. To do this, you take out a $175,000, 35-year, 11 percent mortgage. Your mortgage payments, which are made at the end of each year (one payment each year), include both principal and 11 percent interest on the declining balance. How large will your annual payments be? The amount of your annual payment will be $ 19,841.3. (Round to the nearest cent.)

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