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Frankie and Emerson want to buy a house. Their banker offered them a fully amortising $95 000 loan at a 12% annual rate for 20

Frankie and Emerson want to buy a house. Their banker offered them a fully amortising $95 000 loan at a 12% annual rate for 20 years. What will their monthly payment be if they make equal monthly instalments over the next 20 years? (round to nearest $10).

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