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You would like to take a housing loan with amount equal to JD 110,000, the bank annual rate on mortgages equal to 8.5%, answer the

You would like to take a housing loan with amount equal to JD 110,000, the bank annual rate on mortgages equal to 8.5%, answer the following question: -

How much should the annual interest rate be in order to pay the loan back within 20 years using monthly payment equal to JD 500?

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