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A mutual fund manager wishes to purchase a property that's been valued at $1.5 m....

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Accounting

A mutual fund manager wishes to purchase a property that's been valued at $1.5 m. She has $200,000 in cash to use as a deposit, and she will require a mortgage for the rest. The annual interest rate on the loan is 2.45% and the loan is for 25 years. Calculate the monthly repayments. Give your answer in dollars and cents. Do not include commas or the dollar sign in your answer.

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