Sarah has an opportunity to buy a lake-side caf from a friend for $ 600,000. She will finance it with a mortgage calling for annual payments over 20…

1.     Sarah has an opportunity to buy a lake-side café from a friend for $ 600,000. She will finance it with a mortgage calling for annual payments over 20 years at 8.5% annually compounded interest. How much will her annual payment be?

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