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5) Amanda secured a bank loan of $100 000 to help the purchase of a luxury apartment. The mortgage is to be amortized through monthly

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5) Amanda secured a bank loan of $100 000 to help the purchase of a luxury apartment. The mortgage is to be amortized through monthly payment for a term of 30 years, with an interest rate of 5.8 per year compounded monthly on the unpaid balance. She planned to sell her house in 20 years. How much will Amanda still owe on her house? [15 marks]

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