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A bank granted Matome a home loan for R800 000 when he started working some years ago. The loan was to be repaid over a period of 25 years. The rate of interest on the loan was 10,75% p.a., compounded monthly. Matome made his first repayment one month after the loan was granted and he continued to make monthly repayments thereafter. Calculate Matome's monthly repayments.
Sagot :
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