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The Happy Hang Glide Company is purchasing a building and has obtained a $ 1 5 0 , 0 0 0 mortgage loan for 2

The Happy Hang Glide Company is purchasing a building and has obtained a $150,000 mortgage loan for 20 years. The loan bears a compound interest rate of 16% p.a. and calls for equal annual installment payments at the end of each of 20 years. What is the amount of annual payment?
$15541.36
$26350.35
$22084.15
$25300.05
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