John has to pay $1,000 per month for his mortgage for another 5 years,
John has to pay $1,000 per month for his mortgage for another 5 years, but he is considering paying
the mortgage off in one lump sum.
John cannot calculate the present value of the payments using
the annuity formulas because his payments are monthly and not once per year.
Indicate whether the statement is true or false
ANSWER
FALSE
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