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You borrow 5 0 0 0 0 for a term o 1 4 years at a fixed interest rate of 8 % per annum. The

You borrow

50000

for a term o

14

years at a fixed interest rate of

8 %

per annum. The loan is to be repaid by level monthly repayments in arrears of capital and interest. what is the capital repaid in the first monthly instalment

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