a) Peter wishes to purchase a motor vehicle from a dealer in Johannesburg for R150 000. His bank, ABSA,is prepared to lend him the money on condition that he undertakesto repay the loan monthly in advance over a period of 36 months. If interest is to be charged at 16,5% per annum compounded monthly in advance, what will his monthly instalment gonna be ? b) I want to pay half-yearly instalments on my loan account of R100000. If the bank charges me 16% interest compounded annuallyover five years, how much will my instalments be? c) A bill of R150000 is worth R153725 as it accumulates daily interest. If interest is 9,95%per year, what is the tenure of the bill?(

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A: As you have asked a question with multiple parts, we will solve the first 3 parts as per policy of…

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A: The question can be solved as follows:

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A:

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A: The borrower is required to pay regular payments every period to repay the debt.

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Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.