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Five years ago, Mike borrowed a home loan of $500,000, repayableby equal monthly instalments over 30 years. At the time he borrowedthe money, the interest

Five years ago, Mike borrowed a home loan of $500,000, repayableby equal monthly instalments over 30 years. At the time he borrowedthe money, the interest rate was 3.6% per annum, compoundingmonthl 2 answers

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