Question
Priya has taken out a 30-year mortgage from the Commonwealth Bank to purchase her new home. The mortgage has a 2.45% annual interest rate, and
Priya has taken out a 30-year mortgage from the Commonwealth Bank to purchase her new home. The mortgage has a 2.45% annual interest rate, and Priya makes weekly payments of $350, which cover both the principal and the interest.
Required:
- Calculate the total amount Priya has borrowed from the bank.
2. If the mortgage amount accounts for 80% of her house value, how much has Priya paid as a deposit for the house?
Priya is a student in the 2-year Master of Public Administration course at the Holmes Institute. At the start of each trimester, she is required to pay a fixed fee for each unit she is enrolled in.
What type of cash flow is it?
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