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A loan of 5300,000 is to be paid over 15 years by equal month-end instalments where the interest rate is 12% per annum compounded monthly.

A loan of 5300,000 is to be paid over 15 years by equal month-end instalments where the interest rate is 12% per annum compounded monthly. What is the amount of the monthly instalment Select one: a $3.778.96 b. $3,600.50 c53.555.89 d. 54.05432

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