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Below shows the monthly repayment table of a personal installment loan. Which method is used to calculate the monthly payment? Explain. What is the monthly

Below shows the monthly repayment table of a personal installment loan.

  1. Which method is used to calculate the monthly payment? Explain.
  2. What is the monthly flat rate for a loan amount over HK$700,000?
  3. What are the 24-month repayment amount and the APR based on every HKD10,000 loan amount?

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