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2.4 Financial markets and monetary policy (A-level only)

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Question 23

A homeowner has an interest-only mortgage of £195,000. The annual interest rate paid on their mortgage has increased from 1.8% to 4.75%.

Calculate the increase in the amount of interest paid per month. Give your answer to the nearest pound (£).

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2.4 Financial markets and monetary policy (A-level only) Questions

  1. A Level
  2. /Economics
  3. /2.4 Financial markets and monetary policy (A-level only)