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You decide to purchase a new home and need a $160 comma 000 160,000 mortgage. You take out a loan from the bank that has

You decide to purchase a new home and need a $160 comma 000

160,000 mortgage. You take out a loan from the bank that has an interest rate of 5

5%. What is the yearly payment to the bank to pay off the loan in 10years?

FP= $

nothing

(Round your response to two decimalplaces.)

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