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5.) Please use the chart below to answer the following questions: Monthly Payment to Amortize (Repay) a Loan per $1,000. Rate Term Term Term 20 Years 25 Years 30 Years 7% $7.75 $7.07 $6.65 10% $9.65 $9.09 $ 8.78 1. $168,000 at 7% for 20 years ___7.75_____x 168 (168,000 รท 1,000) x 12months x 20 years) = _____$312,480_____ ................
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