Question: what does The rate increase is 27% yearly or 2.25% monthly. The number of payments is 30 years x 12 months = 360 payments. The

what does The rate increase is 27% yearly or 2.25% monthly. The number of payments is 30 years x 12 months = 360 payments. The monthly annuity amount is $20,250/12 = $1,687.50. The present value of the annuity (PVA) is then calculated using the formula for the present value of an annuity meaning

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