Liliana wants to borrow money to buy a house. The bank sent her an email with the following table attached.
- Liliana decides that she can afford $1000 per month on repayments.
What is the maximum amount she can borrow, and how many years will she have to repay the loan? (1 mark)
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- Zali intends to borrow $160 000 over 15 years from the same bank.
If she chooses to borrow $160 000 over 20 years instead, how much more interest will she pay? (2 marks)
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