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QUESTION 1 You borrow 192000 for 14 years from a bank in order to renovate your flat. The effective interest rate charged by the bank

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QUESTION 1 You borrow 192000 for 14 years from a bank in order to renovate your flat. The effective interest rate charged by the bank is 4% per a The loan is to be repaid by level annual repayments, paid in arrears. Calculate the annual repayment. Give your answer to two decimal places and do not use a pound sign in your

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