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Mathematics 14 Online
mroyeisboss:

Mortgage Payment Problem: People who buy houses usually get a loan to pay for most of the house and pay on the resulting mortgage each month. Suppose you get a $50,000 loan and pay it back at $550.34 per month with an interest rate of 12% per year (1% per month). Your balance, B dollars, after n monthly payments is given by the algebraic equation

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