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Noel and Anne have been married for one year, and are planning to buy a house in Perth for $800,000. They will borrow $600,000 from

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Noel and Anne have been married for one year, and are planning to buy a house in Perth for $800,000. They will borrow $600,000 from a bank. The interest rate on the loan is 4.8% per annum, compounding monthly. The loan is for 24 years, and they have to make monthly repayments to the bank, the first payment being exactly one month from today. What is the total amount they will have to repay to the bank over the life of the loan? Select one: a. $1,348,810 b. $1,235,981 C. $1,147,239 d. $1,011,608

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