2. Suppose you want to borrow €500,000 by means of a 20-year mortgage loan with equal monthly payments (starting form th

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answerhappygod
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2. Suppose you want to borrow €500,000 by means of a 20-year mortgage loan with equal monthly payments (starting form th

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2. Suppose you want to borrow €500,000 by means of a 20-year
mortgage loan with equal monthly
payments (starting form the next month onwards). Assume the bank’s
monthly interest rate is 0.15%.
The monthly amount you need to pay to the bank comes closest
to:
A) €2,000
B) €2,250
C) €2,500
D) €2,750
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