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
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F59dc45f5-4eca-46e8-9986-eafdd0b4ed88%2Fa3910166-76d0-4b76-81cf-5462f85bf62b%2Fyuvw8no_processed.jpeg&w=3840&q=75)
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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