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What will the monthly installments be

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Question - You have just bought a house for $1,800,000. After paying a deposit of $400,000, you took a 20-year home-loan from your bank. What will the monthly installments be, if the interest rate on the loan is 4.8% p.a. with monthly compounding?

a. $9,085

b. $5,833

c. $11,681

d. $9,204

e. None of the other answers is correct

Reference no: EM132533607

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