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theroyalty theroyalty
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4 months ago
Amir has obtained a $250,000 mortgage. The mortgage is amortized over 25 years and the term of the mortgage is 25 years. The mortgage interest rate is 9% compounded annually. Amir will begin making annual payments of $25,451.56 at the end of the year. How much of Amir's third payment is interest?

▸ $2,290.64

▸ $18,470.51

▸ $21,944.81

▸ $22,500.00
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Corporate Finance

Corporate Finance


Edition: 5th
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chanelfargesenchanelfargesen
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theroyalty Author
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4 months ago
You make an excellent tutor!
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Smart ... Thanks!
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This calls for a celebration Person Raising Both Hands in Celebration
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