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You borrow a GPM of $120,000 with annual payments and 30-year term. The interest rate is 10%. The payment rises by 2% each year. Questions:
You borrow a GPM of $120,000 with annual payments and 30-year term. The interest rate is 10%. The payment rises by 2% each year.
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- What are the annual payments for years 1 to 30?
- What is remaining balance at the end of each year?
- What are the interest payment and principal payment for years 1 to 30?
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The Evolution Of Finance
Authors: Barbara Guth
1st Edition
1633377261, 978-1633377264
