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Question Assuming 3 years from now, the couple decides to purchase their own property in Sydney. The estimated purchase price is $1,700,000. They are able
Question Assuming 3 years from now, the couple decides to purchase their own property in Sydney. The estimated purchase price is $1,700,000. They are able to obtain 90% financing from the bank at a fixed rate of 7% for 20 years. i.) How much do they have to pay the bank every year? ii.)How much do they still owe the bank when Hannah goes to university? (Present an amortisation table for their mortgage).
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