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Posted: **Tue Nov 16, 2021 7:49 am**

: Q2 A Borrower Obtained A Constant Amortisation Mortgage Cam Loan Of 450 000 For A Term Of 25 Years At An Interest Ra 1 (11.36 KiB) Viewed 77 times

Q2: A borrower obtained a constant amortisation mortgage (CAM) loan of $450,000 for a term of 25 years at an interest rate of 6%. Assuming the payments are made monthly, what will be the amount of the 20th payment? Round your answer to two decimal places.