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7) You would like to take a housing loan with amount equal to JD 110,000,...

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Accounting

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7) You would like to take a housing loan with amount equal to JD 110,000, the bank annual rate on mortgages equal to 8,5%, answer the following questions: - How much should the monthly payment be in order to pay back the loan in 10 years? How much it takes the loan to be paid back if the monthly payment was JD 800? - How much should the annual interest rate be in order to pay the loan back within 20 years using monthly payment equal to JD 500

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