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What is the interest component of 25th repayment

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You are considering the purchase of home for $700,000. You have available a deposit of $100,000. the bank will lend you money at 7 per cent annum compounded monthly over over period up to 20 years. if you borrow the required funds over 20 years, what are monthly repayment? After two year, how much do you still owe bank? What is the interest component of 25th repayment?

Reference no: EM132544519

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