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Jane Smith is considering the purchase of a house and will require a bank loan of AUD800,000.The bank has indicated the following terms: 4.8% pa

Jane Smith is considering the purchase of a house and will require a bank loan of AUD800,000.The bank has indicated the following terms: 4.8% pa (monthly equivalent rate of 0.4%) fixed interest, 20-year term, monthly repayments, interest and principal such that the loan is fully repaid.

Q16.1 - What is the monthly repayment amount?

AUD 4,133

AUD 5,731

AUD 4,701

AUD 5,191

AUD 5,010

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