(Answered) Georgie and teresa are contemplating buying a house for

Management Studies

Georgie and teresa are contemplating buying a house for which they will need a $200000 loan. They find a suitable lender who offers them the funds at nominal annual 6.5% fixed rate and advises a 25 year loan.

a) What is the monthly repayment for a 25-years loan.

b) How much interest is paid over 25 years.

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Business Management, Management Studies

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