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Assume you need $100,000 now and want to pay the loan over 25 years. City Bank offer you a loan as following: Rate: 6% p.a.
Assume you need $100,000 now and want to pay the loan over 25 years. City Bank offer you a loan as following: Rate: 6% p.a. compounded monthly Monthly fee: $8 Up front costs: $550 How much you have to pay the bank each month?
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