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You plan to borrow $431,000 now and repay it in 25 equal annual installments (payments will be made at the end of each year). If

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You plan to borrow $431,000 now and repay it in 25 equal annual installments (payments will be made at the end of each year). If the annual interest rate is 11%, how much will your annual payments be? $62,435.99 $46,105.45 $31,725.09 $26,014.57 $51,177.04

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