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3 year loan of R 95000 with 25% residual. Payments are made monthly. Interest rate is currently 12.25% per year however it is expected to

3 year loan of R 95000 with 25% residual. Payments are made monthly. Interest rate is currently 12.25% per year however it is expected to drop by 5o basis points every six months for the duration of the loan. Calculate the fixed payment that must be paid regardless of the changes in interest rates.

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