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You are thinking of purchasing a house. The house costs $300,000.

You have $43,000 in cash that you can use as a down payment on the? house, but you need to borrow the rest of the purchase price. The bank is offering a 30?-year mortgage that requires annual payments and has an interest rate of 10% per year. What will your annual payment be if you sign up for this? mortgage?

The annual payment is $ --------. (Round to the nearest? dollar.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92827820

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