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Question 3 (3 marks) You have bought a house worth $260,000 by taking a 15 year loan at an annual rate of 4% per annum

Question 3 (3 marks) You have bought a house worth $260,000 by taking a 15 year loan at an annual rate of 4% per annum compunded monthly, what will be the loan outstanding at the end of 5 years

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