The Jacksons have agreed to pay $1,419 at the end of every month for 15 years on their mortgage loan of $167,000. What annually compounded nominal rate are they paying?

A) 5.09%

B) 7.23%

C) 8.11%

D) 7.29%

E) 6.11%

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# The Jacksons have agreed to pay $1,419 at the end of every month for 15 years on their mortgage loan

Let's find answer to your question.

A) 5.09%

B) 7.23%

C) 8.11%

D) 7.29%

E) 6.11%