Question: 2,4% compounded yearly 2000 monthly payment 1 000 000 initial payment 40 years What is the maximum amount that Mr. Andreotti should pay? Show the

2,4% compounded yearly

2000 monthly payment

1 000 000 initial payment

40 years

  1. What is the maximum amount that Mr. Andreotti should pay? Show the calculations and explain why.

  2. What is the total amount that Mr. Andreotti will pay in total after 40 years?

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