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5) A housing loan for $400,000 is repayable over 15 years with monthly instalments at 4.8% p.a. compounding monthly. Assuming the repayments are made as

image text in transcribed 5) A housing loan for $400,000 is repayable over 15 years with monthly instalments at 4.8% p.a. compounding monthly. Assuming the repayments are made as scheduled, the amount of the loan outstanding after 5 years is (choose the closest answer): A. $211,212 B. $297,044 C. $166,225 D. $266.667 E. $233,775

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