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Page 1: Page 1 Page 2 · 2016. 4. 27. · A mortgage of $200,000 with an APR of 3 ... a loan that you pay off with equal regular payments (or amortized loan) Suppose you wanted to pay off

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Example 3 Loan Balance Chapter 1.3 A business property is purchased with a promise to pay off a $60,000 loan plus the $16,500 interest on this loan by

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