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  3. a bank loans a family $90,000 at 4.5% annual inter

A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house....

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Basic Math

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A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house. Thefamily agrees to pay the loan off by making monthly payments over a 15 year period.How much should the monthly payment be in order to pay off the debt in 15 years?Show all your calculations

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