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Layla applied for a mortgage bond of R 1 850 000 at an interest rate of 10 5 compounded monthly The term of the bond

Layla applied for a mortgage bond of R 1 850 000 at an interest rate of 10 5 compounded monthly The term of the bond is 20 years and the instalments are payable monthly Calculate the monthly instalment 12 P/YR End N = 240 I = 10.5% PV = 1 850 000 FV = 0

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