Reducing-Balance Loans
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The table above shows the monthly repayments for an investment loan at an interest rate of 8% p.a. reducible. Tony applied for a loan of $125,000 over 10 years. What would be the interest paid on this loan?
\(\$ 58,310\)
\(\$ 48,240\)
\(\$ 57,280\)
\(\$ 61,210\)
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