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Helen takes out a 30-year home loan of $900,000. She makes equal month-end repayments of $x at the interest of 6% p.a. compounded monthly. 10

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Helen takes out a 30-year home loan of $900,000. She makes equal month-end repayments of $x at the interest of 6% p.a. compounded monthly. 10 years after Helen takes out the home loan, the loan outstanding balance becomes $753,171.52. The bank increases the interest rate to 7.2% p.a. compounded monthly. Helen has to increase her monthly repayment to SY in order to repay the loan in the remaining 20 years. Which of the following equations can be used to find the increased monthly repayment $Y?(There may be more than one correct answer. You will lose marks by choosing a wrong answer. The minimum mark for the question is zero.) (2 marks) Select one or more: a. None of the equations give the correct answer. Y b. 753171.52 (1.006)240 (1.006240 - 1) 0.006 Y c. 753171.52 (1 - 1.006-240) 0.006 Y d. 753171.52 = 900000 - (1.006)120 (1.006120 1) 0.006 Y e. 900000 0.006 (1 - 1.006-360) Y f. 753171.52 + (1.006240 - 1) 0.006

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