Question: 4. Solving For Interest Rate You are considering purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as

4. Solving For Interest Rate You are considering purchasing a house.

4. Solving For Interest Rate You are considering purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30 -year mortgage that requires annual payments of $22,000. What is the interest rate (per year) on this mortgage

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