
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN: 9780079039897
Author: Carter
Publisher: McGraw Hill
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Transcribed Image Text:Week 3: Mortgages and Amortiza X
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rses/167748/assignments/5379530?module_item_id=23896312
11:59pm
Points 10
Submitting an external tool
Gider the following monthly amortization schedule:
Payment # Payment Interest
Debt Payment
Balance
1
1,167.34 540.54
626.80
259,873.20
2
1,167.34 539.24
628.10
259,245.10
3
1,167.34
With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loa
Round your answer to the nearest hundredth of a percent.
Do NOT round until you calculate the final answer.
* Previous
a
E
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