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How much did they borrow

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    Assignment ID: FG133056728

    Question – Jack and Jill purchase a house on top of a hill, borrowing from the First Crown Bank. They are making annual repayments of $20,081.82 for 20 years. The interest rate is 12% compounding annually. How much did they borrow?

    a. $150,000

    b. $170,000

    c. $130,000

    d. $401,636.40

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