3.1 Table 1 below is a loan factor table that shows the monthly repayments per RI 000 on a home loan with interest rates ranging from 9,75% to 11.25% per annum, over 15, 20, 25 or 30 years. Magda is planning on buying a house and she has a disposable income of R18 570 per month. The National Credit Act (NCA )stipulates that the home loan amount that a person qualifies for should be calculated based on the disposable income. Table 1: Loan factor table for calculating monthly repayments on a home loan per R1 000 Interest % Years 20 9.49 15 25 30 9.75% 10.59 10.75 8.91 8.59 8.78 10.00% 9.65 9.82 9.98 9.09 9.26 9.44 9.62 9.80 10.25% 10.50% 10.90 11.05 8.96 10.75% 11.00% 11.21 11.37 11.52 9.15 9.33 10.15 10.32 10.49 9.52 11.25% 9.98 9.71 3.1.1 Define the term monthly repayments. Write down the loan factor if Magda decides to pay her monihiy repayments over a 25-year period at an interest rate of 10.75%. 3.1.2
3.1 Table 1 below is a loan factor table that shows the monthly repayments per RI 000 on a home loan with interest rates ranging from 9,75% to 11.25% per annum, over 15, 20, 25 or 30 years. Magda is planning on buying a house and she has a disposable income of R18 570 per month. The National Credit Act (NCA )stipulates that the home loan amount that a person qualifies for should be calculated based on the disposable income. Table 1: Loan factor table for calculating monthly repayments on a home loan per R1 000 Interest % Years 20 9.49 15 25 30 9.75% 10.59 10.75 8.91 8.59 8.78 10.00% 9.65 9.82 9.98 9.09 9.26 9.44 9.62 9.80 10.25% 10.50% 10.90 11.05 8.96 10.75% 11.00% 11.21 11.37 11.52 9.15 9.33 10.15 10.32 10.49 9.52 11.25% 9.98 9.71 3.1.1 Define the term monthly repayments. Write down the loan factor if Magda decides to pay her monihiy repayments over a 25-year period at an interest rate of 10.75%. 3.1.2
Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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Transcribed Image Text:3.1 Table 1 below is a loan factor table that shows the monthly repayments per RI 000
on a home loan with interest rates ranging from 9,75% to 11,25% per annum, over
15, 20, 25 or 30 years. Magda is planning on buying a house and she has a disposable
income of R18 570 per month. The National Credit Act (NCA)stipulates that the home
loan amount that a person qualifies for should be calculated based on the disposable
income.
Table 1: Loan factor table for calculating monthly repayments on a
home loan per R1 000
Interest %
Years
15
20
30
8.59
8.78
8.96
25
9.75%
10.00%
10.59
9.49
8.91
9.09
9.26
9.44
10.75
9.65
10.25%
10.50%
10.90
9.82
9.98
11.05
9.15
9.33
10.75%
11.00%
11.25%
11.21
10.15
9.62
9.80
11.37
10.32
10.49
9.52
9.71
11.52
9.98
3.1.1
Define the term monthly repayments.
Write down the loan factor if Magda decides to pay her monihiy repayments
over a 25-year period at an interest rate of 10.75%.
3.1.2
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