Axl will be borrowing $150,000 today to buy a house, and he will pay it...
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Finance
Axl will be borrowing $150,000 today to buy a house, and he will pay it back with 20 yearly payments starting one year from today. If the effective annual interest rate is 9%, how much will the final payment be if the annual payments are constant?
Select one:
a. $19,500
b. $16,400
c. $19,000
d. $17,200
e. $15,000
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