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Phantom Limited borrows $100,000 at an interest rate of 12% per annum compounding monthly, repayable by equal monthly instalments over 20 years.Calculate the principal and

Phantom Limited borrows $100,000 at an interest rate of 12% per annum compounding monthly, repayable by equal monthly instalments over 20 years.Calculate the principal and interest components of the first repayment.

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