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Suppose you purchase a home for RM350,000. After making a down payment of RM50,000, you borrow the balance through a mortgage loan at 8 percent

Suppose you purchase a home for RM350,000. After making a down payment of RM50,000, you borrow the balance through a mortgage loan at 8 percent for 20 years. What is the annual payment required by the mortgage? If you could get a loan for 25 years but had to pay 9 percent annually, what is the difference in the annual payment?

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