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1.)Suppose an engineer purchases a home and secures a loan of Php 2,500,000 from a commercial bank for 20 years at an annual interest rate

1.)Suppose an engineer purchases a home and secures a loan of Php 2,500,000 from a commercial bank for 20 years at an annual interest rate of 9%.

a.) Find the monthly amortization of the load.

b.) How much is the total amount paid over the life of the loan in the problem?

c.) How much is the total amount of interest paid over 20 years in the problem?

Please provide a formula-type solution. Thanks

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