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(Using financial calculator) You mortgaged a house for 2.5 million dollars. The bank charges an interest rate of 3% per annum. If you must pay
(Using financial calculator) You mortgaged a house for 2.5 million dollars. The bank charges an interest rate of 3% per annum. If you must pay off the loan in 25 years, what is the yearly payment you will need to make? Show all your work, including any formulae you used. Without works shown will receive a zero
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