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Example 1: Kitcheware Limited has approached Mega Bank to obtain a term loan to finance the purchase of a new highspeed CD burner. The bank

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Example 1: Kitcheware Limited has approached Mega Bank to obtain a term loan to finance the purchase of a new highspeed CD burner. The bank offers a $150000 loan, amortised over five years at 8% per annum, payable at the end of each month. Calculate the monthly loan instalments. Example 1: Kitcheware Limited has approached Mega Bank to obtain a term loan to finance the purchase of a new highspeed CD burner. The bank offers a $150000 loan, amortised over five years at 8% per annum, payable at the end of each month. Calculate the monthly loan instalments

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