Question: Kiran has already saved $ 5 7 5 , 0 0 0 as a deposit for a new waterfront villa in the Hamptons. It will

Kiran has already saved $575,000 as a deposit for a new waterfront villa in the Hamptons. It will cost him a total of $3.5 million to purchase this property. He plans to borrow the rest from CityGroup as a mortgage over 15 years at a rate of 3.2% p.a. compounding monthly. What would be Kiran's monthly repayments?

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