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Real estate prices are so high in Tokyo that some mortgages arewritten for 99 years in an attempt to keep down the monthlypayments. A) What is the monthly payment on a $500,000 mortgage at8% for 99 years? B) How much does this save the borrower each monthcompared to a 30-year mortgage at 8% for the same amount? C) Whichterm results in the higher total payment?
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