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Business, 18.05.2021 19:10 AM28

A borrower took out a 30-year fixed-rate mortgage of $2,250,000 at a 7.2 percent annual rate. After 10 years, he wishes to pay off the remaining balance. Interest rates have by then fallen to 7 percent. How much must he pay to retire the mortgage (to the nearest dollar)? Group of answer choices $2,015,678 $2,122,426 $1,939,766 $2,225,330 $2,212,041

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A borrower took out a 30-year fixed-rate mortgage of $2,250,000 at a 7.2 percent annual rate. After...

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