Home Loan Problems Set 3 Question 9
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Question 9
Ronald is purchasing a flat at a price of $500000. He has decided to go with a loan from the Tri Counties Bank. He's managed to collect enough money to make a 7 % deposit. The length of the mortgage is 25 years, with a fixed interest rate of 6.6 %.
[an error occurred while processing this directive]Your job is to work the amount of money Ronald will have to pay to the Tri Counties Bank every month.