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Question 15 6 pts Evelyn will need a fixed-rate mortgage to buy a new holiday house of $865,000 in the Blue Mountains today. CBA will

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Question 15 6 pts Evelyn will need a fixed-rate mortgage to buy a new holiday house of $865,000 in the Blue Mountains today. CBA will lend her money at an home loan rate of 2.8% p.a. compounded annually on a 30 year mortgage. After all her outgoings, Evelyn can only afford to repay monthly payments of exactly $1,275, so she offers to pay off the remaining loan amount at the end of the mortgage as a single payment. (a) How large would this final single payment be if the monthly payments are $1,275? (b) Evelyn has decided today she will work a second job, so she can earn more money and repay higher monthly payments of $1,900 back to CBA instead. As a result, how much will the final single payment decrease by? B I Y A A D! HTML Editore IX E 31 x' x X TTT 12pt

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