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Boris borrows a $300,000, 5 years loan at 6% with monthly repayment. What is the total amount that he will need to pay if he

Boris borrows a $300,000, 5 years loan at 6% with monthly repayment.

What is the total amount that he will need to pay if he pre-pays the loan in full at the end of year 2.

a. under fixed principal repayment?

b. under equal payments?

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