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You are taking out a 150,000 monthly loan to fund a new business start-up. The bank gives you an amortised loan with an annual interest
You are taking out a 150,000 monthly loan to fund a new business start-up. The bank gives you an amortised loan with an annual interest rate of 5% and a repayment period of 15 years. What is the total amount of interest you will pay in and what is this as a % of all repayments?
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