Jane wants to buy a house and approaches the bank to borrow $612,000. The bank...
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Accounting
Jane wants to buy a house and approaches the bank to borrow $612,000. The bank agrees to lend her the money and quotes a monthly repayment amount of $5,000 with no additional loan fees. If the bank's quoted annual interest rate is 5% p.a compounding monthly calculate the number of full month-end repayments using Excel. (answer by rounding down to whole number eg 50)
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