## You decided to buy a house worthy 15 million. The requirement of the mortgage is that you pay a down payment of 1.5 million and the balance

Question

You decided to buy a house worthy 15 million. The requirement of the mortgage is that you pay a down payment of 1.5 million and the balance you apply for a bank loan payable in 20 years. The interest rate is 15% per annum and the interest is payable on monthly basis.

i) What would be the monthly repayment?

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2021-07-22T06:16:21+00:00
2021-07-22T06:16:21+00:00 1 Answers
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## Answers ( )

Answer:1.20 million

Step-by-step explanation:if i am wrong sorry:(