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You are thinking of purchasing a house. The house costs $ 3 1 5 , 0 0 0 . You have $ 5 5 ,
You are thinking of purchasing a house. The house costs $ You have $ in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a year mortgage that requires annual payments and has an interest rate of per year. What will be your annual payment if you sign this mortgage?
The annual payment will be $Round to the nearest cent.
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