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Jack and Jill take out a housing loan to purchase a home. The loan will be for $540,000. It is to be repaid in equal monthly instalments over a term...

Jack and Jill take out a housing loan to purchase a home. The loan will be for $540,000. It is to be repaid in equal monthly instalments over a term of 20 years. The interest rate quoted by the bank is 6.90% pa nominal with interest added monthly. How much is the monthly repayment? How much do Jack and Jill owe the bank immediately before making the 90th repayment

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