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What is the monthly repayment for a years loan

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Reference no: EM131609260

Georgie and teresa are contemplating buying a house for which they will need a $200000 loan. They find a suitable lender who offers them the funds at nominal annual 6.5% fixed rate and advises a 25 year loan.

a) What is the monthly repayment for a 25-years loan.

b) How much interest is paid over 25 years.

Reference no: EM131609260

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