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Question B 1 A couple borrows $1.6 million to buy a house. The loan term is 25 years, with equal monthly payments at a fixed

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Question B 1 A couple borrows $1.6 million to buy a house. The loan term is 25 years, with equal monthly payments at a fixed interest rate of 4.2% PA. After how many years will they have paid off half the principal. Clearly show any formulae and workings

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