Table 2: Home loan from STL. Bank Loan amount oan period in years Annual interest rate RI 250 000 20 11% 10.32 Loan factor Tisal repayment Use the formula: Menthly repayment (in rand) (loan amount + 1000) x loan factor
Table 2: Home loan from STL. Bank Loan amount oan period in years Annual interest rate RI 250 000 20 11% 10.32 Loan factor Tisal repayment Use the formula: Menthly repayment (in rand) (loan amount + 1000) x loan factor
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Transcribed Image Text:Table 21 Home loan from STL Bank
Loan amount
Toan period in years
Annual interest rate
Loan factor
Twal repayment
RI 250 000
20
11%
10.32
Use the formula:
Menthly repayment (in rand) (loan amount+ 1000) x loan factor
Calculate the total repayment that must be paid after 20 years by Magda's uncle.
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