Question: Upvote will be given for your useful help! Question 2 (10 marks) Charmaine has just purchased an apartment at a price of $10 million. She

Upvote will be given for your useful help! Question 2 (10

Upvote will be given for your useful help!

Question 2 (10 marks) Charmaine has just purchased an apartment at a price of $10 million. She made a down- payment of $4 million and financed the remaining balance with a 15-year mortgage at an interest charge of 3% per annum. a) Determine the size of the fixed month-end payments. [Note: Round the percentage to 4 decimals.] (4 marks) b) of the 150th monthly repayment, how much will be used to pay the interest charge for the month and how much for the principal repayment? (6 marks)

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