Question: You have borrowed $ 7 0 0 , 0 0 0 for your house. The bank is charging you 8 % per year for a

You have borrowed $700,000 for your house. The bank is
charging you 8% per year for a period of 20 years. Your
payments are annual. At the end of year 8 what should be
your interest payment?
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You have borrowed $700,000 for your house. The bank is charging

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