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Abdullah signs a mortgage agreement for 20 years with Abu Dhabi Bank for a house that today. The bank offers a loan of AED2. 4
Abdullah signs a mortgage agreement for 20 years with Abu Dhabi Bank for a house that today. The bank offers a loan of AED2. 4 million and Abdullah pays AEDO. 6 million as from his personal savings. If the bank charges an interest of 12% annually, a. how much should Abdullah pay as a monthly installment for this loan? b. Calculate the total interest paid
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