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

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Description: 3.1 Table 1 below is a loan factor table that shows the monthly repayments per RI 000on a home loan with interest rates ranging from 9,75% to 11,25% per annum, over15, 20, 25 or 30 years. Magda is planning on buying a house and she has a disposablei

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.

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Question

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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