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Meriton Ltd borrows $ 100,000 at an interest rate of 11.5% per annum, repayable by equal monthly instalments over 20 years. Calculate the principal and

Meriton Ltd borrows $ 100,000 at an interest rate of 11.5% per annum, repayable by equal monthly instalments over 20 years. Calculate the principal and interest components of the first and last repayments. Solve step by step with the formula.

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