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11-01-2024
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What is the total annual debt payment on a loan given the following information? Amount: $2,645,700 Interest Rate: 4.15% Amortization Period: 25 years Term: 7 years (Hint: This payments are due monthly on this loan).
a. $170,220
b. $14,18
c. $36,346
d. $172,052

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