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Besides buying residential properties, some retirees prefer to buy commercial lots such as shop lots and office lots as investments. The purchase of these commercial

Besides buying residential properties, some retirees prefer to buy commercial lots such as shop lots and office lots as investments. The purchase of these commercial lots is usually financed by commercial banks or financial institutions. One of the main forms of loan offered by the commercial banks or financial institutions is fixed loan. Briefly explain THREE (3) criteria that are commonly considered in the calculation of the fixed-loan installment.

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