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LO3 A mortgage broker offers to sell you a mortgage loan contract delivering month-end payments...

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LO3 A mortgage broker offers to sell you a mortgage loan contract delivering month-end payments of $900 for the next 243 years. At that point, the principal balance of $37,886 is due and payable. What should you pay for the contract, if you require a return of 7.2% compounded monthly

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