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Calculate the amount of quarterly repayment

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Question: Joe borrowed $9 million to purchase an apartment in Melbourne. The loan requires quarterly repayments over 20 years. The interest rate of the borrowing was 6.7 per cent per annum. Calculate the amount of quarterly repayment. The response must be typed, double spaced, times new roman, font size 12 and must follow APA format.

Reference no: EM132758020

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