Filippe would like to buy an apartment and he will needd to borrow $250000 to...
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Accounting
Filippe would like to buy an apartment and he will needd to borrow $250000 to pay for this. Interest will be charged at the annual percentage interest rate 3.96%. Filippe plans to repay his loan over a period 25 years. Using the rounded repayment amount, calculate the balance of the loan after 25 years.
Monthly repayment is $1314.08
Answer is $1.62
Please provide the solution.
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