$255,000 is borrowed to purchase a block of land. It is to be repaid with monthly repayments at 4.2% interest over 25 years: (HINT: Use AMORT on your calculator)   (a)  Calculate the monthly repayments. (b)  How much interest is paid over the life of the loan? (c)  How much is still owed at the end of 10 years?

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A: The conceptual formula used:

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Q: Excellent bank has offered you, a GHC 60,000 35year loan to purchase equipment in your Factory. The…

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A:

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Q: Excellent bank has offered you, a GHC 60,000 35year loan to purchase an equipment in your Factory.…

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