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Kenneth has just heard of a mortgage facility that will enable him own a dream house from a bank. The bank has asked him to
Kenneth has just heard of a mortgage facility that will enable him own a dream house from a bank. The bank has asked him to pay Kshs in cash in which case the bank will give him a loan of Kshs payable I n years at per annum. He has approached you to help him calculate how much he will be required to pay the bank in form of principle and interest every year. Assuming the loan is affixed rate of mortgage that is fully amortized, draw a table to show annual payment of interest and principal amount Marks
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