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Home Loan Problems Set 2 Question 10

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Question 10

Rhys is purchasing a two bedroom house at a price of $540000. Rhys is getting a mortgage from the Mizuho Corporate Bank. He's managed to collect enough money to make a 15 % deposit. Rhys's mortage term is 10 years, with a fixed interest rate of 4.8 %.

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Your job is to work the amount of money Rhys will have to pay to the Mizuho Corporate Bank every month.

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