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A home was bought with a 20% down payment of R177175,00. The balance was financed for 20 years at 9,4% interest per annum, compeunded semi-annually. Find the size of the half-yearly payments for the loan. [1] R49 523,75 R39 619,00 [3] R11 885,70 [4] R6310,10

A home was bought with a 20% down payment of R177175,00. The balance was financed for 20 years at 9,4% interest per annum, compeunded semi-annually. Find the size of the half-yearly payments for the loan. [1] R49 523,75 R39 619,00 [3] R11 885,70 [4] R6310,10

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 4 A home was bought with a 20% down payment of R177175,00. The balance was financed for 20 years at 9,4% interest per annum, compeunded semi-annually. Find the size of the half-yearly payments for the loan. [1] R49 523,75 [2] R39 619,00 [3] R11 885,70 [4] R6310,10
Transcribed Image Text:Question 4 A home was bought with a 20% down payment of R177175,00. The balance was financed for 20 years at 9,4% interest per annum, compeunded semi-annually. Find the size of the half-yearly payments for the loan. [1] R49 523,75 [2] R39 619,00 [3] R11 885,70 [4] R6310,10
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