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1) Find the fixed monthly repayments on a 25-year mortgage o an AER of 5.4%. (ii) After 15 years of paying this mortgage, the mortgage

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1) Find the fixed monthly repayments on a 25-year mortgage o an AER of 5.4%. (ii) After 15 years of paying this mortgage, the mortgage holder is in a position to clear the mortgage with a single lump sum payment. Determine the size of the lump sum payment required to clear the mortgage at this point

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