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You owe $200,000 on a mortgage loan. You wish to repay the loan with 10 equal payments, one at the end of each year for
You owe $200,000 on a mortgage loan. You wish to repay the loan with 10 equal payments, one at the end of each year for the next 10 years, and a separate final $120,000 payment at the end of 18 years (from now). What is the appropriate amount of each of the 10 equal annual payments? The interest rate is 8% compounded annually.
$28,428
$34,281
$11,922
$29,806
$38,089
$21,522
$30,030
$25,331
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