Dan buys a property for 250000 he is offered a 20-year loan


Dan buys a property for $250,000. He is offered a 20-year loan by the bank, at an interest rate of 6% per year. What is the annual loan payment Dan must make?

1. 32,684
2. 24864
3. 21796
4. 64486

 

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Finance Basics: Dan buys a property for 250000 he is offered a 20-year loan
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