Question
You recently obtained a loan to purchase a $475,000 home; the loan terms included annual payments for a 25-year term at an interest rate
You recently obtained a loan to purchase a $475,000 home; the loan terms included annual payments for a 25-year term at an interest rate of six percent. How much is your annual loan payment? Use time value of money factors with at least four decimal places and then round your final answer to the nearest whole dollar.
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
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