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How much will be the monthly installments to be amortized

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Reference no: EM133079006

Question - Sam want to buy a house. The sales required her to pay an initial down payment of 30% of the selling price and the balance to be paid in 36 equal monthly installments with an interest of 11.5% per annum.

Required -

How much will Sam pay as down payment should the house be sold at 1,500,000?

How much interest will it earn at the end of 36 months?

How much will be the monthly installments to be amortized to Sam as a payment of the house?

Reference no: EM133079006

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