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Single choice 19) You have been asked to use the PMT function in Excel to calculate the annual payment on a fixed rate 15-year repayment

Single choice 19) You have been asked to use the PMT function in Excel to calculate the annual payment on a fixed rate 15-year repayment mortgage of $100,000. The annual interest rate has been quoted as 5.0%. What is the annual payment (to the nearest $)? O $9,490 O $9,634 $11,667 O $6,667

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