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Jenny takes out a 20-year home loan of $800,000. The bank charges 3.6% p.a. compounded monthly with an interest-only period of 5 years. After the
Jenny takes out a 20-year home loan of $800,000. The bank charges 3.6% p.a. compounded monthly with an interest-only period of 5 years. After the interest only period, Jenny makes equal month-end repayments. Calculate how much Jenny needs to pay every month after the interest only period. (Round your answer to 2 decimal places. Do not include the $ symbol. Do not use comma separators. E.g. 1234.56)
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