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Sam took out a $550,000 home mortgage with 3.0% interest rate and equal annual payments. How much will he have to pay annually to repay

Sam took out a $550,000 home mortgage with 3.0% interest rate and equal annual payments. How much will he have to pay annually to repay the loan in 25 years?

Group of answer choices

$27,000

$18,839

$25,016

$31,585

$22,500

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