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Kellie purchases an apartment by borrowing $600,000 from the bank. The interest rate charged on the loan is 6% per annum compounded monthly and Kellie

Kellie purchases an apartment by borrowing $600,000 from the bank. The interest rate charged on the loan is 6% per annum compounded monthly and Kellie agrees to make level month-end repayments to fully repay the loan over the next 30 years. (a) Calculate the level monthly repayment (rounded to the nearest cent).

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