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An individual intends to take out a mortgage of £300,000 to purchase a new house. The mortgage is to be repaid by level
Posted: Wed Jul 06, 2022 6:41 pm
by answerhappygod
- An Individual Intends To Take Out A Mortgage Of 300 000 To Purchase A New House The Mortgage Is To Be Repaid By Level 1 (12.47 KiB) Viewed 32 times
An individual intends to take out a mortgage of £300,000 to purchase a new house. The mortgage is to be repaid by level instalments payable monthly in arrears over 25 years. Bank A will use an effective rate of interest of 4.5% per annum. Calculate the amount of the monthly repayment in this case. (0) [3]