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24-04-2024
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With a constant payment mortgage that is written for $48,951.77 and specifies payments of $520 per month for 15 years, what is the interest rate on this mortgage, rounded to two decimal places?
a) j12 = 8.82%.
b) j2 = 8.96%.
c) j4 = 9.88%.
d) j1 = 8.52%.

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