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Step by step , showing the formula please You just borrowed $25,000 on a 12% pa. 5-year loan to buy a car. (i) (i) 10.

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You just borrowed $25,000 on a 12% pa. 5-year loan to buy a car. (i) (i) 10. What is your monthly payment? What is your total payment and total interest payment over the life of the loan? (ii) Find the SInterest, SRepayment, and balances for the first 2 months. 11. You just borrowed $500,000 on a 6% p.a. 30-year mortgage to buy a home. (i) (i) What is your monthly payment? What is your total payment and total interest payment over the life of the loan? Find the $Interest, $Repayment, and balances for the first 2 months. (iii) 12. Redo Q11, but using a 15-year, 5% p.a. loan

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