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Borrowed: 8 8 6 0 5 9 , interest rate 5 . 9 % . 2 5 years of fortnights and 2 6 fortnights a
Borrowed: interest rate years of fortnights and fortnights a year. what is the initial fortnightly payment of a year mortgage using the PVA formula. What would the fortnightly payment be in year if the interest rate increased by after years using the PVA formula? What would the fortnightly payment be if the interest increased again by from year using the PVA formula? What would the fortnightly payment be if the interest rate increased again by from year using the PVA formula? And what is the Effective Annual Interest rate for each period using the EAR formula?
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