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Posted on Aug 14, 2024

In order to finance the purchase of new premises, your company decides to enter in a 1 2 - year mortgage with a local bank.

In order to finance the purchase of new premises, your company decides to enter in a

12 -

year mortgage with a local bank. The amount required is equal to

50, 000 .

euro. The bank is ready to offer you an interest rate equal to

3.5 % .

How much is the monthly payment on this mortgage?

THE CORRECT ANSEER IS

425.73 .

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