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Your grandmother takes a reverse annuity mortgage on her house for $160,000 at 7.00% for five years. Her payments will be an equal annual annuity

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Your grandmother takes a reverse annuity mortgage on her house for $160,000 at 7.00% for five years. Her payments will be an equal annual annuity of $26,002. How much interest does she pay over the term of the loan? 1) $21,918 2) $20,887 3) $29,990 4) $34,399 5) $42,171

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