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Please show the Excel formula AND manual working out for this question. Brian takes out a home loan of $477,900 today. He wants to make
Please show the Excel formula AND manual working out for this question.
Brian takes out a home loan of $477,900 today. He wants to make equal yearly repayments of $47,790 starting one year from today. The interest rate is 8.4% p.a. compounded weekly. Calculate the number of yearly repayments (including the final smaller repayment) Brian needs to make to fully repay the loan.
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