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Question
Suppose you take out a home equity loan of $100,000 for 5 years at an annual interest rate of 5 percent, with payments to be made monthly. What will the approximate monthly payments be? The relevant formula is:
a. $1,320.71
b. $1,887.12
c. $1,924.79
d. $5,282.82
Answer
This answer is hidden. It contains 1 characters.
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