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. Sam borrows $1,000,000 by a mortgage with annual payments over 30 years at a rate of 9.75% per annum interest. What are his annual

. Sam borrows $1,000,000 by a mortgage with annual payments over 30 years at a rate of 9.75% per annum interest. What are his annual payments? what is the remaining balance on his loan after 5 years? 15 years?

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