Mr and Mrs Motshabane bought a franchise for R1 000 000,00. They took a mortgage loan at 10,7% interest per year, compounded monthly, for a term of 20 years. What is the principal repaid during the fourth month

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Mr and Mrs Motshabane bought a franchise for R1 000 000,00. They took a mortgage loan at 10,7% interest per year, compounded monthly, for a term of 20 years. What is the principal repaid during the fourth month

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