Grey Pebble Real Estate seeks a fully amortizing fixed-rate five-year mortgage loan to finance 75 percent of
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Grey Pebble Real Estate seeks a fully amortizing fixed-rate five-year mortgage loan to finance 75 percent of the purchase price of a residential building that costs NZD5 million. The annual mortgage rate is 4.8 percent. The monthly payment for this mortgage would be closest to:
A. NZD70,424.
B. NZD93,899.
C. NZD71,781.
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