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Question: Ms Fatin is planning to purchase a house costing $420,000.she has $50,000 in cash saving s that she can use as a down payment on the house, but she needs to borrow the rest of the purchase price. the bank is offering a 30 year mortgsge that requires annual payments and had an interest rate 8% per year. What will her annual payment be if she signs up for this mortgage?

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