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Jason and Mary purchase a house for $550,000. They obtain a home loan for 80% of...

Jason and Mary purchase a house for $550,000. They obtain a home loan for 80% of the purchase price. They wish to pay off the mortgage monthly over 25 years. Assume a fixed interest rate of 4.5% p.a. What will be the amount of each monthly repayment? IN DEPTH ANSWER PLEASE SHOW ALL CALCULATIONS PLEASE.

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