Question: A 30-year $300,000 loan involves level amortization payments at the end of each year. The effective annual interest rate is 9% Let P be the

A 30-year $300,000 loan involves level amortization payments at the end

A 30-year $300,000 loan involves level amortization payments at the end of each year. The effective annual interest rate is 9% Let P be the ratio of total dollars of interest paid by the borrower divided by 1. total aggregate payment dollars made by the borrower over the life of the loan. Find P 0.525

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