Mathematics, 24.07.2021 20:20 yayalovebree
2) Jessica takes out a loan of R180 000 which is to be repald over a 5 year period. The loan agreement
allows for payments to start 3 months after the granting of the loan at an interest rate of 10,5% per
annum compounded monthly.
a) Determine the outstanding balance of the loan 2 months after the loan is granted.
b) What are the monthly repayments that Jessica has to make in order to pay the loan off in 5 years?
Answers: 3
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2) Jessica takes out a loan of R180 000 which is to be repald over a 5 year period. The loan agreeme...
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