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10. A couple wish to buy a house priced at $400,000. The terms for purchase are 15% down payment, and the rest is to be

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10. A couple wish to buy a house priced at $400,000. The terms for purchase are 15% down payment, and the rest is to be paid off in equal monthly instalments over a period of 25 years. If the annual interest rate is fixed at 3% and is compounded monthly, what would their monthly instalment be

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