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Loan Assignment

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February 18th, 2020

A loan will be repaid by month-end repayments of 2,000 for 10 years. The interest rate is 3.9% p.a. compounded monthly for the first 6 years and 6.8% p.a. compounded monthly thereafter. How much is the loan? Correct your answer to the nearest cent without any units. (Do not use “$” or “” in your answer. e.g. 12345.67) Get Finance homework help today

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