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| rev | Admin | (Created page with "Your brother-in-law asks you to lend him $100,000 as a second mortgage on his vacation home. He promises to make level monthly payments for 10 years, 120 payments in all. You decide that a fair interest rate is 8% compounded annually. What should the monthly payment be on the $100,000 loan? <ul class="mw-excansopts"> <li>$1060</li> <li>$1079</li> <li>$1099</li> <li>$2010</li> <li>$2020</li> </ul> '''References''' {{cite web |url=https://alo.mit.edu/wp-content/uploads/...") | Dec 4'23 at 20:35 | +688 |