Home Loan Problems Set 7 Question 2
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Question 2
Elvis is purchasing a three bedroom house at a price of $590000. He has decided to go with a loan from the Amalgamated Bank. He's managed to collect enough money to make a 18 % deposit. The length of the mortgage is 10 years, with a fixed interest rate of 7.4 %.
[an error occurred while processing this directive]Your job is to work the amount of money Elvis will have to pay to the Amalgamated Bank every month.